Financial OutlookCurrent valuation attractive: maintaining BUY rating, but raising 12-month price target to $8.00 from $7.75 based on a NPV analysis, representing significant upside from the current share price.
Market PotentialThe estimated addressable domestic market opportunity for EsoGuard is ~$2 billion based on tens of millions of U.S. patients with gastroesophageal reflux disease (GERD).
Regulatory ApprovalsLucid is one step closer to receiving Medicare coverage for EsoGuard, which gives confidence in revenue estimates.