BTIG analyst Mark Massaro has reiterated their bullish stance on LUCD stock, giving a Buy rating yesterday.
Mark Massaro’s rating is based on Lucid Diagnostics’ impressive performance and strategic advancements. The company reported a strong fourth-quarter volume increase, with significant year-over-year revenue growth driven by higher test volumes and average selling prices. Additionally, the inclusion of Lucid’s EsoGuard test in the NCCN guidelines is expected to accelerate insurance coverage, especially following recent payor agreements with major health plans.
Lucid’s innovative EsoGuard test addresses a significant unmet need, with a large potential market of approximately 30 million Americans at risk for esophageal adenocarcinoma. The company’s financial position has been strengthened by recent fundraising efforts, providing a solid cash runway. Furthermore, the potential for activating an LCD with Medicare and the strategic focus on expanding commercial payor coverage are seen as key growth drivers. These factors collectively support the Buy rating, despite a slight adjustment in the price target to account for recent financing dilution.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $3.00 price target.
LUCD’s price has also changed dramatically for the past six months – from $0.773 to $1.500, which is a 94.05% increase.