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

D. Boral Capital started coverage on shares of Scilex (NASDAQ:SCLX) in a research report released on Monday, Marketbeat.com reports. The firm issued a buy rating and a $22.00 price target on the stock.

A number of other brokerages also recently weighed in on SCLX. Alliance Global Partners started coverage on shares of Scilex in a report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Scilex in a research note on Monday, October 21st.

Scilex Trading Up 4.5 %

Scilex stock opened at $0.46 on Monday. Scilex has a 12 month low of $0.38 and a 12 month high of $2.63. The stock has a fifty day simple moving average of $0.51 and a two-hundred day simple moving average of $0.91. The firm has a market cap of $88.22 million, a price-to-earnings ratio of -0.55 and a beta of 1.06.

Scilex (NASDAQ:SCLX) last released its quarterly earnings data on Friday, January 17th. The company reported ($0.18) EPS for the quarter. On average, equities research analysts forecast that Scilex will post -0.75 EPS for the current fiscal year.

Institutional Trading of Scilex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of Scilex by 0.7% during the 3rd quarter. State Street Corp now owns 7,484,310 shares of the company’s stock valued at $6,920,000 after acquiring an additional 54,404 shares during the period. XTX Topco Ltd grew its holdings in Scilex by 321.4% during the second quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock valued at $203,000 after purchasing an additional 80,409 shares during the period. Donald L. Hagan LLC increased its position in Scilex by 15.4% in the third quarter. Donald L. Hagan LLC now owns 130,792 shares of the company’s stock worth $121,000 after buying an additional 17,500 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Scilex by 3.5% in the third quarter. Janus Henderson Group PLC now owns 534,302 shares of the company’s stock worth $494,000 after buying an additional 17,848 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Scilex during the 2nd quarter valued at about $25,000. 69.67% of the stock is owned by hedge funds and other institutional investors.

Scilex Company Profile

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.