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

D. Boral Capital reissued their buy rating on shares of Scilex (NASDAQ:SCLX) in a research note issued to investors on Friday,Benzinga reports. They currently have a $22.00 price objective on the stock.

Scilex Stock Performance

NASDAQ:SCLX opened at $0.24 on Friday. The stock’s 50-day simple moving average is $0.40 and its 200 day simple moving average is $0.71. The company has a market cap of $57.42 million, a P/E ratio of -0.28 and a beta of 1.06. Scilex has a 52-week low of $0.21 and a 52-week high of $2.63.

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

Hedge Funds Weigh In On Scilex

A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in Scilex by 0.7% during the third quarter. State Street Corp now owns 7,484,310 shares of the company’s stock worth $6,920,000 after buying an additional 54,404 shares during the last quarter. Northern Trust Corp increased its position in Scilex by 64.0% during the fourth quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock worth $543,000 after buying an additional 497,182 shares during the last quarter. 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 buying an additional 775,039 shares during the last quarter. Janus Henderson Group PLC increased its position 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. Finally, Norges Bank acquired a new position in Scilex during the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 69.67% of the company’s 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.