Scilex (NASDAQ:SCLX) Earns Buy Rating from Analysts at D. Boral Capital

Research analysts at D. Boral Capital began coverage on shares of Scilex (NASDAQ:SCLX - Get Free Report) in a report released on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $22.00 price target on the stock.

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

Scilex Trading Down 2.8 %

Scilex stock traded down $0.01 during midday trading on Monday, hitting $0.45. The stock had a trading volume of 651,228 shares, compared to its average volume of 1,424,923. The business has a fifty day moving average price of $0.50 and a 200 day moving average price of $0.90. Scilex has a 12 month low of $0.38 and a 12 month high of $2.63. The stock has a market cap of $85.75 million, a P/E ratio of -0.54 and a beta of 1.06.

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

Institutional Trading of Scilex

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Scilex in the second quarter valued at approximately $25,000. XTX Topco Ltd increased its position in Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company's stock valued at $203,000 after acquiring an additional 80,409 shares during the period. Donald L. Hagan LLC raised its stake in 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 acquiring an additional 17,500 shares in the last quarter. Janus Henderson Group PLC boosted its position in Scilex by 3.5% during the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company's stock worth $494,000 after acquiring an additional 17,848 shares during the period. Finally, State Street Corp grew its stake in shares of Scilex by 0.7% in the third 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 in the last quarter. Institutional investors and hedge funds 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.