Scilex (SCLX) Projected to Post Quarterly Earnings on Friday

Scilex (NASDAQ:SCLX) is projected to post its results before the market opens on Friday, February 20th. Analysts expect Scilex to post 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 stock has a market cap of $68.51 million, a PE ratio of -0.25 and a beta of 1.35. The stock has a 50-day moving average of $11.78 and a two-hundred day moving average of $16.61. Scilex has a one year low of $3.60 and a one year high of $34.27.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Scilex

A number of large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of 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 in the last quarter. Norges Bank acquired a new stake in Scilex during the second quarter worth about $80,000. BNP Paribas Financial Markets raised its stake in Scilex by 189.6% during the third quarter. BNP Paribas Financial Markets now owns 7,430 shares of the company’s stock worth $146,000 after purchasing an additional 4,864 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Scilex in the 4th quarter valued at about $150,000. Finally, 683 Capital Management LLC purchased a new stake in shares of Scilex during the 4th quarter valued at approximately $333,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

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.