Scilex (NASDAQ:SCLX) Coverage Initiated at D. Boral Capital

Research analysts at D. Boral Capital assumed coverage on shares of Scilex (NASDAQ:SCLX - Get Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set a "buy" rating and a $22.00 price target on the stock.

SCLX has been the topic of several other research reports. Alliance Global Partners began coverage on shares of Scilex in a report on Wednesday, October 16th. They set a "buy" rating and a $14.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $7.00 target price on shares of Scilex in a research note on Monday, October 21st.

Scilex Price Performance

SCLX stock traded up $0.02 during midday trading on Monday, reaching $0.46. The company had a trading volume of 2,099,280 shares, compared to its average volume of 1,446,449. The firm has a 50-day moving average price of $0.51 and a 200-day moving average price of $0.92. The company has a market capitalization of $87.46 million, a P/E ratio of -0.55 and a beta of 1.06. Scilex has a 1 year low of $0.38 and a 1 year high of $2.63.

Scilex (NASDAQ:SCLX - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The company reported ($0.18) earnings per share for the quarter. On average, equities analysts predict that Scilex will post -0.75 EPS for the current year.

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Insider Transactions at Scilex

In related news, insider Jaisim Shah purchased 32,000 shares of Scilex stock in a transaction dated Tuesday, October 29th. The stock was purchased at an average cost of $0.99 per share, for a total transaction of $31,680.00. Following the completion of the acquisition, the insider now directly owns 109,333 shares of the company's stock, valued at $108,239.67. The trade was a 41.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 70,888 shares of company stock worth $53,835. 8.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Scilex

Several institutional investors and hedge funds have recently made changes to their positions in SCLX. XTX Topco Ltd grew its stake in shares of Scilex by 321.4% in the second quarter. XTX Topco Ltd now owns 105,431 shares of the company's stock worth $203,000 after acquiring an additional 80,409 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Scilex in the second quarter worth about $25,000. Donald L. Hagan LLC grew its stake in shares of Scilex by 15.4% during the 3rd quarter. Donald L. Hagan LLC now owns 130,792 shares of the company's stock valued at $121,000 after purchasing an additional 17,500 shares during the period. Janus Henderson Group PLC increased its position in shares of Scilex by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company's stock valued at $494,000 after purchasing an additional 17,848 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Scilex by 0.7% in the 3rd quarter. State Street Corp now owns 7,484,310 shares of the company's stock worth $6,920,000 after purchasing an additional 54,404 shares during the period. Institutional investors own 69.67% of the company's stock.

About Scilex

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.