Zacks Investment Research Upgrades Lucid Diagnostics (NASDAQ:LUCD) to “Hold”

Lucid Diagnostics (NASDAQ:LUCDGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. Lucid Diagnostics Inc. is based in NEW YORK. “

LUCD has been the subject of several other reports. Canaccord Genuity Group reduced their price objective on Lucid Diagnostics from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lucid Diagnostics in a research note on Friday, February 4th. Canaccord Genuity Group reduced their price objective on Lucid Diagnostics from $12.00 to $8.00 in a research note on Thursday, May 12th. Needham & Company LLC cut their target price on Lucid Diagnostics from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, March 29th. Finally, BTIG Research reissued a “buy” rating and set a $5.00 target price on shares of Lucid Diagnostics in a research note on Friday, May 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Lucid Diagnostics presently has a consensus rating of “Buy” and an average target price of $12.43.

Shares of NASDAQ LUCD opened at $2.10 on Wednesday. Lucid Diagnostics has a 52-week low of $1.79 and a 52-week high of $13.52. The business has a 50-day moving average price of $2.45 and a 200 day moving average price of $4.05.

Lucid Diagnostics (NASDAQ:LUCDGet Rating) last announced its earnings results on Monday, March 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). As a group, research analysts forecast that Lucid Diagnostics will post -1.42 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Lucid Diagnostics during the fourth quarter worth about $714,000. Goldman Sachs Group Inc. bought a new stake in Lucid Diagnostics during the fourth quarter worth approximately $132,000. Verition Fund Management LLC bought a new stake in Lucid Diagnostics during the first quarter worth approximately $122,000. Renaissance Technologies LLC bought a new stake in Lucid Diagnostics during the fourth quarter worth approximately $107,000. Finally, Invesco Ltd. bought a new position in shares of Lucid Diagnostics in the fourth quarter valued at $93,000. 8.84% of the stock is currently owned by institutional investors.

Lucid Diagnostics Company Profile (Get Rating)

Lucid Diagnostics Inc operates as a commercial-stage medical diagnostics technology company. The company focuses on patients with gastroesophageal reflux disease, also known as chronic heartburn, acid reflux or simply reflux, who are at risk of developing esophageal precancer and cancer, specifically highly lethal esophageal adenocarcinoma.

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