Scilex (NASDAQ:SCLX) Releases Earnings Results

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

Scilex Stock Performance

Scilex stock opened at $0.45 on Friday. Scilex has a fifty-two week low of $0.38 and a fifty-two week high of $2.63. The firm’s 50-day simple moving average is $0.54 and its 200 day simple moving average is $0.98.

Insiders Place Their Bets

In other Scilex news, insider Jaisim Shah acquired 32,000 shares of Scilex stock in a transaction on Tuesday, October 29th. The stock was purchased at an average price of $0.99 per share, for a total transaction of $31,680.00. Following the purchase, the insider now directly owns 109,333 shares of the company’s stock, valued at $108,239.67. This trade represents a 41.38 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 70,888 shares of company stock valued at $53,835 in the last 90 days. 8.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SCLX. Alliance Global Partners assumed coverage on shares of Scilex in a report on Wednesday, October 16th. They set a “buy” rating and a $14.00 price objective for the company. 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.

About Scilex

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.