Lucid Diagnostics Inc. (NASDAQ:LUCD) Receives $4.19 Consensus Target Price from Brokerages

Lucid Diagnostics Inc. (NASDAQ:LUCD) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $4.1875.

Several analysts recently weighed in on LUCD shares. Wall Street Zen downgraded Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. BTIG Research restated a “buy” rating and issued a $2.50 price target on shares of Lucid Diagnostics in a report on Monday, August 17th. Ascendiant Capital Markets upped their price target on shares of Lucid Diagnostics from $9.00 to $9.25 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, Weiss Ratings downgraded shares of Lucid Diagnostics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 18th.

Lucid Diagnostics Price Performance

Shares of LUCD stock opened at $0.79 on Tuesday. The company has a market capitalization of $159.69 million, a P/E ratio of -1.67 and a beta of 1.10. The company’s 50-day simple moving average is $0.94 and its two-hundred day simple moving average is $1.06. Lucid Diagnostics has a one year low of $0.75 and a one year high of $1.63.

Lucid Diagnostics (NASDAQ:LUCD) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $1.47 million for the quarter, compared to the consensus estimate of $1.43 million. On average, research analysts expect that Lucid Diagnostics will post -0.23 EPS for the current fiscal year.

Institutional Trading of Lucid Diagnostics

Several hedge funds and other institutional investors have recently bought and sold shares of LUCD. Alyeska Investment Group L.P. acquired a new stake in Lucid Diagnostics during the 2nd quarter worth about $9,477,000. BlackRock Inc. purchased a new stake in shares of Lucid Diagnostics in the second quarter valued at approximately $8,959,000. Two Seas Capital LP purchased a new stake in shares of Lucid Diagnostics in the second quarter valued at approximately $6,420,000. Sunbelt Securities Inc. raised its stake in shares of Lucid Diagnostics by 134.4% during the 1st quarter. Sunbelt Securities Inc. now owns 900,013 shares of the company’s stock worth $1,035,000 after buying an additional 516,014 shares during the period. Finally, XML Financial LLC raised its stake in shares of Lucid Diagnostics by 44.8% during the 2nd quarter. XML Financial LLC now owns 323,195 shares of the company’s stock worth $346,000 after buying an additional 100,000 shares during the period. Institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc is a medical diagnostics company focused on the detection of precancerous conditions and cancers of the esophagus. The company develops and commercializes diagnostic products intended to support earlier identification of patients at elevated risk, particularly those with Barrett’s esophagus, a condition associated with esophageal cancer.

Lucid’s principal products include EsoGuard, a laboratory-developed DNA test that analyzes cells collected from the esophagus for molecular changes associated with precancerous disease, and EsoCheck, a noninvasive, swallowable balloon capsule and catheter system designed to collect those cells from the esophageal lining.