Lucid Diagnostics Q3 revenue misses analyst expectations

Overview

• US cancer diagnostics firm's Q3 revenue missed analyst expectations

• Adjusted loss per share for Q3 met analyst expectations

• Company secured nationwide Medicare reimbursement for EsoGuard, expects revenue growth to accelerate

Outlook

• Company expects commercial acceleration and revenue growth following nationwide Medicare reimbursement for EsoGuard

• Lucid says near-term growth depends on commercial and operational execution

• Company is focused on expanding access to EsoGuard for Medicare beneficiaries and increasing test volumes

Result Drivers

• MEDICARE REIMBURSEMENT - Co said nationwide Medicare coverage for EsoGuard marked a shift to commercial acceleration and revenue growth

• RECORD TEST VOLUME - Co reported record monthly EsoGuard test volume in October, following Medicare payments

• COMMERCIAL EXPANSION - Co said it is expanding coverage through additional health plans and VA programs

Company press release: Full Story

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

• Wall Street's median 12-month price target for Lucid Diagnostics Inc is $3.00, about 686.6% above its November 11 closing price of $0.38

Reuters Recommended Reads

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)