Scilex Holding (NASDAQ:SCLX - Free Report) - HC Wainwright issued their Q3 2024 earnings estimates for shares of Scilex in a research report issued on Monday, October 21st. HC Wainwright analyst R. Selvaraju expects that the company will post earnings per share of ($0.10) for the quarter. HC Wainwright currently has a "Buy" rating and a $7.00 price target on the stock. The consensus estimate for Scilex's current full-year earnings is ($1.06) per share. HC Wainwright also issued estimates for Scilex's Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.45) EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.11) EPS.
Separately, Alliance Global Partners started coverage on shares of Scilex in a research note on Wednesday, October 16th. They issued a "buy" rating and a $14.00 price target on the stock.
Read Our Latest Stock Report on Scilex
Scilex Trading Down 5.8 %
Scilex stock traded down $0.06 during mid-day trading on Wednesday, hitting $0.91. The company had a trading volume of 1,828,395 shares, compared to its average volume of 1,123,665. Scilex has a 12 month low of $0.73 and a 12 month high of $2.63. The stock's 50 day moving average price is $1.02 and its two-hundred day moving average price is $1.24. The company has a market capitalization of $165.57 million, a PE ratio of -0.69 and a beta of 1.15.
Scilex (NASDAQ:SCLX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.18) EPS for the quarter, topping analysts' consensus estimates of ($0.20) by $0.02. The company had revenue of $16.37 million during the quarter, compared to the consensus estimate of $13.17 million.
Institutional Trading of Scilex
Several hedge funds have recently bought and sold shares of SCLX. The Manufacturers Life Insurance Company bought a new stake in shares of Scilex during the 2nd quarter valued at $25,000. Bank of New York Mellon Corp bought a new position in Scilex in the 2nd quarter worth approximately $31,000. Cannon Global Investment Management LLC bought a new position in shares of Scilex during the first quarter worth $40,000. XTX Topco Ltd lifted its stake in Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company's stock worth $203,000 after purchasing an additional 80,409 shares in the last quarter. Finally, Donald L. Hagan LLC grew its position in shares of Scilex by 59.5% during the second quarter. Donald L. Hagan LLC now owns 113,292 shares of the company's stock valued at $219,000 after purchasing an additional 42,245 shares in the last quarter. Institutional investors own 69.67% of the company's stock.
Insiders Place Their Bets
In related news, insider Jaisim Shah bought 30,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were acquired at an average price of $0.99 per share, for a total transaction of $29,700.00. Following the purchase, the insider now owns 77,333 shares of the company's stock, valued at approximately $76,559.67. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders acquired 56,700 shares of company stock valued at $55,199. Corporate insiders own 8.73% of the company's stock.
Scilex Company Profile
(
Get Free Report)
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.
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