Scilex (NASDAQ:SCLX) Announces Earnings Results

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

Scilex Trading Down 4.3 %

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

Insider Activity

In related news, insider Jaisim Shah purchased 32,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average cost of $0.99 per share, for a total transaction of $31,680.00. Following the acquisition, the insider now directly owns 109,333 shares in the company, valued at approximately $108,239.67. The trade was a 41.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired 70,888 shares of company stock worth $53,835 in the last 90 days. Company insiders own 8.73% of the company’s stock.

Analyst Ratings Changes

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

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.