Lucid Diagnostics (NASDAQ:LUCD) Price Target Raised to $9.00

Lucid Diagnostics (NASDAQ:LUCD) had its target price hoisted by Ascendiant Capital Markets from $8.25 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Other equities analysts have also issued research reports about the stock. BTIG Research reissued a “buy” rating and issued a $2.50 price objective on shares of Lucid Diagnostics in a research report on Monday, March 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price target on shares of Lucid Diagnostics in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lucid Diagnostics in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Lucid Diagnostics from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Lucid Diagnostics presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.13.

Lucid Diagnostics Price Performance

NASDAQ:LUCD opened at $1.12 on Thursday. The firm has a 50 day simple moving average of $1.29 and a 200-day simple moving average of $1.18. The firm has a market cap of $198.18 million, a PE ratio of -1.17 and a beta of 1.24. Lucid Diagnostics has a 1-year low of $0.95 and a 1-year high of $1.70.

Lucid Diagnostics (NASDAQ:LUCD) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.39 million. As a group, sell-side analysts expect that Lucid Diagnostics will post -0.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lucid Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Lucid Diagnostics by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,523,997 shares of the company’s stock worth $4,569,000 after buying an additional 396,719 shares during the period. Masters Capital Management LLC grew its stake in Lucid Diagnostics by 46.6% during the third quarter. Masters Capital Management LLC now owns 3,999,273 shares of the company’s stock worth $4,039,000 after buying an additional 1,272,000 shares during the period. Aberdeen Group plc grew its stake in Lucid Diagnostics by 38.3% during the fourth quarter. Aberdeen Group plc now owns 3,457,894 shares of the company’s stock worth $3,769,000 after buying an additional 957,894 shares during the period. Two Seas Capital LP purchased a new stake in Lucid Diagnostics during the third quarter worth approximately $3,030,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Lucid Diagnostics during the third quarter worth approximately $2,990,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.