Scilex (SCLX) to Release Quarterly Earnings on Friday

Scilex (NASDAQ:SCLX) is expected to be issuing 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

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Scilex in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $630.00.

Institutional Trading of Scilex

A number of institutional investors have recently made changes to their positions in the company. Armistice Capital LLC lifted its holdings in Scilex by 622.2% in the 4th quarter. Armistice Capital LLC now owns 476,674 shares of the company’s stock valued at $5,815,000 after purchasing an additional 410,674 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Scilex by 31.2% in the first quarter. Goldman Sachs Group Inc. now owns 136,352 shares of the company’s stock valued at $34,000 after purchasing an additional 32,449 shares during the period. Renaissance Technologies LLC raised its position in Scilex by 100.7% in the fourth quarter. Renaissance Technologies LLC now owns 38,464 shares of the company’s stock valued at $469,000 after purchasing an additional 19,300 shares during the period. 683 Capital Management LLC acquired a new position in shares of Scilex in the 4th quarter valued at $333,000. Finally, Bank of America Corp DE increased its position in shares of Scilex by 81.0% during the 3rd quarter. Bank of America Corp DE now owns 17,387 shares of the company’s stock worth $342,000 after purchasing an additional 7,783 shares during the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.

About Scilex

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.