Needham analyst Mike Matson reiterated a Buy rating and $3.00 price target on Lucid Diagnostics Inc (NASDAQ: LUCD).

The analyst commented: "In 2Q26, EsoGuard test volume grew 1% Y/Y to 2,770. LUCD's 2Q26 revenue came in above consensus and its operating expenses were below our estimate. LUCD ended 2Q26 with ~$33M of cash as its cash burn decreased moderately from 1Q26. Given LUCD's published data and positive Contractor Advisory Committee (CAC) Meeting on 9/4/25, we think it's very likely that CMS will issue a draft Local Coverage Determination (LCD) covering EsoGuard this year. We expect LUCD's revenue growth to increase and to narrow the gap with EsoGuard test volume growth as it gains coverage from Medicare and other insurers, and we reiterate our Buy rating."

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Shares of Lucid Diagnostics Inc closed at $0.98 yesterday.