Scilex (SCLX) Projected to Post Earnings on Friday

Scilex (NASDAQ:SCLX) is expected to release its results before the market opens on Friday, February 20th. Analysts expect Scilex to post earnings of ($0.47) per share and revenue of $12.10 million for the quarter.

Scilex Stock Performance

SCLX opened at $8.22 on Thursday. Scilex has a one year low of $3.60 and a one year high of $34.27. The company has a market cap of $69.79 million, a P/E ratio of -0.26 and a beta of 1.35. The business’s 50-day simple moving average is $11.60 and its 200-day simple moving average is $16.55.

Institutional Investors Weigh In On Scilex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCLX. Goldman Sachs Group Inc. grew its position in shares of Scilex by 31.2% during the first quarter. Goldman Sachs Group Inc. now owns 136,352 shares of the company’s stock worth $34,000 after acquiring an additional 32,449 shares during the last quarter. Norges Bank acquired a new stake in Scilex during the 2nd quarter worth $80,000. BNP Paribas Financial Markets grew its position in Scilex by 189.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,430 shares of the company’s stock worth $146,000 after purchasing an additional 4,864 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Scilex in the fourth quarter valued at $150,000. Finally, XTX Topco Ltd acquired a new position in Scilex in the fourth quarter valued at $249,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Scilex in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $630.00.

About Scilex

Scilex Holdings, Inc (NASDAQ: SCLX) is a specialty pharmaceutical company focused on non-opioid treatments for chronic pain. The firm’s principal commercial product, ZTlido®, is a lidocaine topical system approved by the U.S. Food and Drug Administration for the management of post-herpetic neuralgia and certain peripheral neuropathic pain conditions. By leveraging a proprietary drug delivery platform, Scilex aims to improve patient comfort and safety compared to traditional oral analgesics.

In addition to marketing ZTlido® in the United States, Scilex is advancing other pain management assets through clinical development and regulatory pathways.