Scilex (NASDAQ:SCLX) Price Target Lowered to $18.00 at D. Boral Capital

Scilex (NASDAQ:SCLX) had its price target reduced by D. Boral Capital from $22.00 to $18.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Scilex Trading Down 4.4 %

Shares of NASDAQ SCLX opened at $0.24 on Wednesday. The stock has a market capitalization of $57.79 million, a PE ratio of -0.29 and a beta of 1.15. Scilex has a twelve month low of $0.21 and a twelve month high of $2.30. The stock has a fifty day simple moving average of $0.33 and a 200-day simple moving average of $0.57.

Scilex (NASDAQ:SCLX) last released its earnings results on Friday, January 17th. The company reported ($0.18) earnings per share for the quarter. On average, equities analysts predict that Scilex will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Scilex

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCLX. Janus Henderson Group PLC boosted its holdings in Scilex by 3.5% in the third 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 period. Donald L. Hagan LLC raised its position in Scilex by 32.5% in the 4th quarter. Donald L. Hagan LLC now owns 173,292 shares of the company’s stock valued at $74,000 after purchasing an additional 42,500 shares in the last quarter. State Street Corp boosted 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 valued at $6,920,000 after buying an additional 54,404 shares during the period. Jane Street Group LLC increased its stake in shares of Scilex by 965.8% during the fourth quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock worth $137,000 after buying an additional 291,316 shares during the period. Finally, Norges Bank acquired a new stake in Scilex in the fourth quarter valued at approximately $204,000. Hedge funds and other 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.