Scilex’s (SCLX) “Buy” Rating Reaffirmed at D. Boral Capital

Scilex (NASDAQ:SCLX)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a research note issued to investors on Friday,Benzinga reports. They currently have a $22.00 price target on the stock.

Scilex Price Performance

SCLX stock traded down $0.01 during midday trading on Friday, reaching $0.22. 244,194 shares of the company were exchanged, compared to its average volume of 1,293,535. The firm has a market capitalization of $53.53 million, a price-to-earnings ratio of -0.26 and a beta of 1.06. The business has a 50-day moving average price of $0.41 and a two-hundred day moving average price of $0.72. Scilex has a one year low of $0.21 and a one year high of $2.63.

Scilex (NASDAQ:SCLX) last announced its quarterly earnings results on Friday, January 17th. The company reported ($0.18) EPS for the quarter. As a group, analysts anticipate that Scilex will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Scilex

Several hedge funds have recently added to or reduced their stakes in SCLX. Janus Henderson Group PLC increased its position in Scilex by 28.7% during the 4th quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock worth $293,000 after buying an additional 153,245 shares during the period. RA Capital Management L.P. increased its position in Scilex by 296.7% during the fourth quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock worth $442,000 after acquiring an additional 775,039 shares during the period. Jane Street Group LLC raised its stake in Scilex by 965.8% in the 4th quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock worth $137,000 after purchasing an additional 291,316 shares in the last quarter. Northern Trust Corp boosted its holdings in Scilex by 64.0% in the 4th quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock valued at $543,000 after purchasing an additional 497,182 shares during the period. Finally, Norges Bank bought a new stake in Scilex in the 4th quarter valued at about $204,000. 69.67% of the stock is owned by institutional investors and hedge funds.

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.