Scilex (SCLX) to Release Quarterly Earnings on Friday

Scilex (NASDAQ:SCLX) is projected to issue its results before the market opens on Friday, February 20th. Analysts expect the company to announce earnings of ($0.47) per share and revenue of $12.10 million for the quarter.

Scilex Stock Performance

Scilex stock opened at $8.07 on Wednesday. The company has a market capitalization of $68.51 million, a PE ratio of -0.25 and a beta of 1.35. Scilex has a fifty-two week low of $3.60 and a fifty-two week high of $34.27. The firm has a 50 day moving average price of $11.78 and a 200 day moving average price of $16.61.

Hedge Funds Weigh In On Scilex

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in Scilex by 189.6% in the third quarter. BNP Paribas Financial Markets now owns 7,430 shares of the company’s stock valued at $146,000 after buying an additional 4,864 shares during the last quarter. Bank of America Corp DE raised its position in Scilex by 81.0% in the 3rd quarter. Bank of America Corp DE now owns 17,387 shares of the company’s stock valued at $342,000 after purchasing an additional 7,783 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Scilex during the fourth quarter worth about $150,000. Norges Bank purchased a new position in shares of Scilex in the 2nd quarter valued at approximately $80,000. Finally, Renaissance Technologies LLC increased its stake in Scilex by 100.7% in the 4th quarter. Renaissance Technologies LLC now owns 38,464 shares of the company’s stock valued at $469,000 after buying an additional 19,300 shares during the period. 69.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Scilex in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $630.00.

Scilex Company Profile

Scilex Holdings, Inc (NASDAQ: SCLX) is a specialty pharmaceutical company focused on non-opioid treatments for chronic pain. The firm’s principal commercial product, ZTlido®, is a lidocaine topical system approved by the U.S. Food and Drug Administration for the management of post-herpetic neuralgia and certain peripheral neuropathic pain conditions. By leveraging a proprietary drug delivery platform, Scilex aims to improve patient comfort and safety compared to traditional oral analgesics.

In addition to marketing ZTlido® in the United States, Scilex is advancing other pain management assets through clinical development and regulatory pathways.