Scilex (NASDAQ:SCLX) Issues Earnings Results

Scilex (NASDAQ:SCLX) posted its earnings results on Friday. The company reported ($0.18) EPS for the quarter, Zacks reports.

Scilex Price Performance

NASDAQ:SCLX traded down $0.02 during midday trading on Friday, reaching $0.45. The stock had a trading volume of 1,210,231 shares, compared to its average volume of 1,365,469. The stock has a market capitalization of $86.11 million, a P/E ratio of -0.31 and a beta of 1.06. Scilex has a 1-year low of $0.38 and a 1-year high of $2.63. The firm’s fifty day simple moving average is $0.55 and its 200-day simple moving average is $1.00.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Alliance Global Partners began coverage on shares of Scilex in a report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Scilex in a report on Monday, October 21st.

Insider Buying and Selling at Scilex

In other Scilex news, insider Jaisim Shah purchased 32,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were bought at an average cost of $0.99 per share, with a total value of $31,680.00. Following the transaction, the insider now directly owns 109,333 shares in the company, valued at approximately $108,239.67. This represents a 41.38 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought 70,888 shares of company stock worth $53,835 over the last ninety days. Company insiders own 8.73% 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.