Q2 2024 EPS Estimates for Scilex Holding (NASDAQ:SCLX) Decreased by Analyst

Scilex Holding (NASDAQ:SCLX) – Analysts at HC Wainwright decreased their Q2 2024 earnings per share (EPS) estimates for Scilex in a research report issued on Thursday, May 23rd. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($0.14) for the quarter, down from their prior estimate of ($0.06). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Scilex’s current full-year earnings is ($0.71) per share. HC Wainwright also issued estimates for Scilex’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.14) EPS.

Scilex (NASDAQ:SCLX) last posted its earnings results on Monday, March 11th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The firm had revenue of $13.46 million during the quarter, compared to the consensus estimate of $11.43 million.

Scilex Stock Performance

NASDAQ:SCLX opened at $1.13 on Monday. Scilex has a 52 week low of $0.73 and a 52 week high of $8.30. The firm’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $1.40. The firm has a market cap of $204.74 million, a price-to-earnings ratio of -0.86 and a beta of 0.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Scilex by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock valued at $6,341,000 after purchasing an additional 55,757 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Scilex in the 3rd quarter valued at $665,000. Donald L. Hagan LLC boosted its holdings in shares of Scilex by 49.1% during the 4th quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock valued at $107,000 after acquiring an additional 17,245 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Scilex during the 3rd quarter worth $68,000. Finally, Focus Financial Network Inc. ADV acquired a new position in Scilex in the 4th quarter worth about $58,000. Institutional investors own 69.67% of the company’s stock.

Insider Activity at Scilex

In related news, insider Jaisim Shah acquired 83,061 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $0.84 per share, with a total value of $69,771.24. Following the acquisition, the insider now directly owns 98,943 shares of the company’s stock, valued at $83,112.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jaisim Shah bought 83,061 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of $0.84 per share, with a total value of $69,771.24. Following the acquisition, the insider now directly owns 98,943 shares in the company, valued at $83,112.12. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jay Chun bought 57,500 shares of the business’s stock in a transaction on Friday, May 17th. The shares were acquired at an average price of $0.90 per share, with a total value of $51,750.00. Following the completion of the purchase, the director now directly owns 102,500 shares of the company’s stock, valued at $92,250. The disclosure for this purchase can be found here. 8.73% of the stock is currently owned by corporate insiders.

Scilex Company Profile

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.