Needham & Company LLC Reiterates Buy Rating for Lucid Diagnostics (NASDAQ:LUCD)

Lucid Diagnostics (NASDAQ:LUCD)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $2.50 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 138.10% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group upgraded Lucid Diagnostics to a “strong-buy” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $3.00 target price on shares of Lucid Diagnostics in a research report on Tuesday, August 13th. Finally, Ascendiant Capital Markets reduced their price target on shares of Lucid Diagnostics from $7.50 to $7.25 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $3.94.

Lucid Diagnostics Price Performance

LUCD stock opened at $1.05 on Thursday. The firm has a market cap of $56.69 million, a PE ratio of -0.85 and a beta of 1.41. Lucid Diagnostics has a 12 month low of $0.63 and a 12 month high of $1.58. The firm has a 50 day simple moving average of $0.86 and a 200 day simple moving average of $0.85.

Lucid Diagnostics (NASDAQ:LUCD) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $0.98 million during the quarter. As a group, sell-side analysts expect that Lucid Diagnostics will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Lucid Diagnostics

A hedge fund recently raised its stake in Lucid Diagnostics stock. Virtu Financial LLC increased its stake in shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) by 66.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,671 shares of the company’s stock after purchasing an additional 13,835 shares during the quarter. Virtu Financial LLC owned approximately 0.07% of Lucid Diagnostics worth $28,000 as of its most recent filing with the SEC. Institutional investors own 74.01% of the company’s stock.

About Lucid Diagnostics

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company in the United States. The company focuses on patients with gastroesophageal reflux disease (GERD) who are at risk of developing esophageal precancer and cancer, primarily highly lethal esophageal adenocarcinoma.