Lucid Diagnostics: Needham Reiterates Buy Rating, Raises PT to $3

Lucid Diagnostics: Needham Reiterates Buy Rating, Raises PT to $3

Lucid Diagnostics Inc. (LUCD) has received a positive update from Needham & Company, which reiterated its Buy rating on the stock and raised its price target (PT) to $3.00 per share. The research firm's analysts cited the company's strong financial performance and potential for growth in the medical diagnostics sector.

In its latest quarterly report, Lucid Diagnostics posted a loss of $0.1 per share, which was a surprise of -11.11% compared to the Zacks Consensus Estimate of $0.09 per share [1]. Despite the loss, the company's revenues for the quarter ended June 2025 were $1.16 million, surpassing the Zacks Consensus Estimate by 29.22% [1]. This marks the second time in the last four quarters that Lucid Diagnostics has topped consensus revenue estimates.

The company's shares have added about 21.8% since the beginning of the year, outperforming the S&P 500's gain of 9.6% [1]. However, the sustainability of the stock's immediate price movement will largely depend on management's commentary on the earnings call and future earnings expectations.

Needham & Company's analysts noted that Lucid Diagnostics' strong balance sheet and ongoing commercial execution position it well for future growth. They also highlighted the company's recent achievements, such as processing 2,756 EsoGuard® tests and recognizing $1.2 million in revenue for the second quarter of 2025 [2]. Additionally, the company's partnership with Hoag to launch a comprehensive esophageal precancer testing program is expected to expand access to at-risk patients.

The analysts also pointed to the company's recent listing in the Russell 2000® and Russell 3000® Indexes, which enhances visibility and access to a broader base of institutional investors [2]. Furthermore, the company's cash position has strengthened, with over $30 million in proforma cash as of June 30, 2025 [2].

Despite the positive outlook, investors should remain vigilant about the company's earnings outlook and the industry's overall performance. The Medical - Instruments industry is currently ranked in the bottom 39% of the 250 plus Zacks industries [1]. However, the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

In summary, Needham & Company's positive rating and price target raise for Lucid Diagnostics reflect the company's strong performance and potential for growth. However, investors should closely monitor the company's earnings outlook and the broader industry trends.

References:
[1] https://finance.yahoo.com/news/lucid-diagnostics-inc-lucd-reports-131501306.html
[2] https://www.prnewswire.com/news-releases/lucid-diagnostics-provides-business-update-and-reports-second-quarter-2025-financial-results-302528917.html