Lucid Diagnostics Inc. (NASDAQ:LUCD) Receives $3.55 Average Target Price from Analysts

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) have received an average recommendation of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $3.55.

A number of brokerages have recently weighed in on LUCD. BTIG Research set a $2.00 price objective on shares of Lucid Diagnostics in a report on Tuesday, March 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price target on shares of Lucid Diagnostics in a report on Wednesday, May 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2.00 price target on shares of Lucid Diagnostics in a report on Thursday, May 15th. Ascendiant Capital Markets upped their price target on shares of Lucid Diagnostics from $7.50 to $7.75 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, Wall Street Zen lowered shares of Lucid Diagnostics from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Lucid Diagnostics Price Performance

Shares of LUCD opened at $1.26 on Monday. The firm has a market capitalization of $136.32 million, a PE ratio of -0.94 and a beta of 1.31. Lucid Diagnostics has a 1-year low of $0.68 and a 1-year high of $1.80. The company’s fifty day moving average price is $1.28 and its 200-day moving average price is $1.18.

Institutional Investors Weigh In On Lucid Diagnostics

Several hedge funds have recently modified their holdings of LUCD. Berkshire Asset Management LLC PA purchased a new stake in shares of Lucid Diagnostics during the 1st quarter worth about $30,000. Northwestern Mutual Wealth Management Co. purchased a new position in Lucid Diagnostics in the 1st quarter valued at about $37,000. Cubist Systematic Strategies LLC acquired a new stake in Lucid Diagnostics in the 1st quarter worth about $39,000. LPL Financial LLC increased its stake in Lucid Diagnostics by 29.1% during the 4th quarter. LPL Financial LLC now owns 53,391 shares of the company’s stock worth $44,000 after buying an additional 12,035 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Lucid Diagnostics during the fourth quarter valued at approximately $67,000. 74.01% of the stock is owned by hedge funds and other institutional investors.

Lucid Diagnostics Company Profile

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.