Lucid Diagnostics (NASDAQ:LUCD) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Lucid Diagnostics (NASDAQ:LUCD) in a report released on Friday morning, Benzinga reports. Needham & Company LLC currently has a $2.50 target price on the stock.

Separately, Cantor Fitzgerald dropped their target price on Lucid Diagnostics from $3.80 to $3.00 and set an overweight rating on the stock in a report on Wednesday, March 27th.

Lucid Diagnostics Trading Down 5.9 %

LUCD opened at $0.81 on Friday. Lucid Diagnostics has a 12-month low of $0.78 and a 12-month high of $1.85. The firm has a 50 day moving average of $1.15 and a two-hundred day moving average of $1.28. The firm has a market capitalization of $39.03 million, a PE ratio of -0.64 and a beta of 1.63.

Lucid Diagnostics (NASDAQ:LUCD) last issued its earnings results on Tuesday, March 26th. The company reported ($0.26) earnings per share (EPS) for the quarter. Lucid Diagnostics had a negative return on equity of 901.79% and a negative net margin of 2,169.07%. The business had revenue of $1.04 million for the quarter. During the same period in the previous year, the business posted ($0.22) earnings per share. As a group, analysts predict that Lucid Diagnostics will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new stake in shares of Lucid Diagnostics during the 2nd quarter valued at about $33,000. Bank of Montreal Can acquired a new stake in Lucid Diagnostics in the second quarter valued at approximately $35,000. Virtu Financial LLC purchased a new stake in shares of Lucid Diagnostics in the fourth quarter valued at approximately $29,000. Millennium Management LLC acquired a new position in shares of Lucid Diagnostics during the 2nd quarter worth approximately $55,000. Finally, BlackRock Inc. lifted its position in shares of Lucid Diagnostics by 39.5% during the 2nd quarter. BlackRock Inc. now owns 26,304 shares of the company’s stock valued at $37,000 after buying an additional 7,448 shares in the last quarter. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Lucid Diagnostics Company Profile

Lucid Diagnostics Inc, a commercial-stage medical diagnostics technology company, focuses on patients with gastroesophageal reflux disease who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma in the United States. The company's flagship product, the EsoGuard Esophageal DNA Test performed on samples collected with the EsoCheck Esophageal Cell collection device, a testing tool with the goal of preventing EAC deaths through early detection of esophageal precancer in at-risk GERD patients.