Palmetto’s final LCD has changes that benefit Lucid Diagnostics, says Needham

Needham analyst Mike Matson notes that Palmetto GBA, Medicare Administrative Contractor, published the final version of the its local coverage determination, or LCD, for upper gastrointestinal metaplasia, dysplasia and neoplasia testing. The final draft is "similar to what was seen in the previous proposed LCD published in March 2022," but has some "incremental changes" that the firm sees benefitting Lucid Diagnostics. Needham has a Buy rating and $2.60 price target on Lucid Diagnostics shares.