Scilex (NASDAQ:SCLX) Receives Buy Rating from D. Boral Capital

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

Scilex Stock Down 3.5 %

SCLX stock traded down $0.01 during midday trading on Friday, reaching $0.22. The company’s stock had a trading volume of 244,194 shares, compared to its average volume of 1,293,535. Scilex has a 52 week low of $0.21 and a 52 week high of $2.63. The stock has a market cap of $53.53 million, a PE ratio of -0.26 and a beta of 1.06. The business’s 50-day simple moving average is $0.41 and its 200-day simple moving average is $0.72.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in 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 acquiring an additional 54,404 shares in the last quarter. Donald L. Hagan LLC grew its stake in Scilex by 32.5% in the fourth 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. Jane Street Group LLC boosted its holdings in shares of Scilex by 965.8% in the 4th quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock valued at $137,000 after buying an additional 291,316 shares during the last quarter. Northern Trust Corp grew its stake in shares of Scilex by 64.0% in the fourth quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock valued at $543,000 after buying an additional 497,182 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Scilex by 28.7% during the fourth 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 last quarter. 69.67% of the stock is currently owned by institutional investors.

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.