Scilex (NASDAQ:SCLX) Announces Earnings Results

Scilex (NASDAQ:SCLX) issued its quarterly earnings results on Friday. The company reported ($16.65) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $7.64 million during the quarter.

Scilex Stock Up 0.3%

NASDAQ SCLX traded up $0.02 on Friday, reaching $6.76. The company had a trading volume of 27,961 shares, compared to its average volume of 87,971. The stock has a market capitalization of $57.39 million, a PE ratio of -0.17 and a beta of 1.67. Scilex has a 12 month low of $4.20 and a 12 month high of $34.27. The firm’s 50 day moving average price is $7.56 and its 200 day moving average price is $7.63.

Analyst Ratings Changes

SCLX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Scilex in a research note on Tuesday, June 16th. Wall Street Zen raised Scilex from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Scilex currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SCLX. Goldman Sachs Group Inc. lifted 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 worth $34,000 after buying an additional 32,449 shares in the last quarter. Norges Bank bought a new position in shares of Scilex during the 2nd quarter valued at approximately $80,000. BNP Paribas Financial Markets grew its holdings in shares of 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 purchasing an additional 4,864 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Scilex in the fourth quarter worth $150,000. Finally, XTX Topco Ltd purchased a new stake in Scilex during the fourth quarter valued at $249,000. 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.