Scilex (SCLX) to Release Earnings on Wednesday

Scilex (NASDAQ:SCLX) will likely be posting its results before the market opens on Wednesday, June 3rd. Analysts expect Scilex to post earnings of ($0.3373) per share and revenue of $15.00 million for the quarter.

Scilex (NASDAQ:SCLX) last posted its earnings results on Wednesday, May 20th. The company reported ($4.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($4.42). The firm had revenue of $8.61 million during the quarter, compared to the consensus estimate of $15.00 million.

Scilex Stock Performance

SCLX opened at $6.41 on Wednesday. Scilex has a fifty-two week low of $4.20 and a fifty-two week high of $34.27. The company has a market capitalization of $54.42 million, a P/E ratio of -0.16 and a beta of 1.77. The stock has a fifty day moving average of $7.08 and a 200-day moving average of $10.90.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Scilex from a “strong sell” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On Scilex

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Scilex by 189.6% during the third 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. Bank of America Corp DE grew its holdings in shares of Scilex by 81.0% during the third quarter. Bank of America Corp DE now owns 17,387 shares of the company’s stock worth $342,000 after purchasing an additional 7,783 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Scilex during the fourth quarter worth about $150,000. Norges Bank acquired a new position in Scilex in the 2nd quarter valued at approximately $80,000. Finally, Renaissance Technologies LLC raised its stake in shares of Scilex by 100.7% during the fourth quarter. Renaissance Technologies LLC now owns 38,464 shares of the company’s stock valued at $469,000 after acquiring an additional 19,300 shares during the last quarter. 69.67% of the stock is currently owned by institutional investors and hedge funds.

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.