Scilex (NASDAQ:SCLX) Coverage Initiated at D. Boral Capital

Analysts at D. Boral Capital initiated coverage on shares of Scilex (NASDAQ:SCLXGet Free Report) in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $22.00 price target on the stock.

A number of other equities research analysts have also issued reports on SCLX. Alliance Global Partners started coverage on Scilex in a research report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Scilex in a research note on Monday, October 21st.

View Our Latest Stock Analysis on Scilex

Scilex Trading Down 2.8 %

Shares of NASDAQ:SCLX opened at $0.45 on Monday. The business has a 50 day moving average of $0.50 and a two-hundred day moving average of $0.90. Scilex has a 12-month low of $0.38 and a 12-month high of $2.63. The company has a market capitalization of $85.75 million, a PE ratio of -0.54 and a beta of 1.06.

Scilex (NASDAQ:SCLXGet Free Report) last announced its earnings results on Friday, January 17th. The company reported ($0.18) earnings per share (EPS) for the quarter. Equities research analysts predict that Scilex will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Scilex

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company purchased a new stake in shares of Scilex in the 2nd quarter valued at approximately $25,000. XTX Topco Ltd boosted its stake in shares of Scilex by 321.4% during the second quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock worth $203,000 after buying an additional 80,409 shares during the period. Donald L. Hagan LLC grew its stake in shares of Scilex by 15.4% in the 3rd quarter. Donald L. Hagan LLC now owns 130,792 shares of the company’s stock valued at $121,000 after purchasing an additional 17,500 shares during the last quarter. Janus Henderson Group PLC grew its position in Scilex by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company’s stock valued at $494,000 after buying an additional 17,848 shares during the last quarter. Finally, State Street Corp raised its holdings in Scilex by 0.7% during the third quarter. State Street Corp now owns 7,484,310 shares of the company’s stock worth $6,920,000 after purchasing an additional 54,404 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.

Scilex Company Profile

(Get Free Report)

Scilex Holding Company focuses on acquiring, developing, and commercializing non-opioid pain management products for the treatment of acute and chronic pain. Its commercial products include ZTlido (lidocaine topical system) 1.8% (ZTlido), a prescription lidocaine topical product for the relief of neuropathic pain associated with postherpetic neuralgia (PHN), which is a form of post-shingles nerve pain; ELYXYB, a ready-to-use oral solution for the acute treatment of migraine with or without aura in adults; and GLOPERBA, a liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.

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