Scilex (NASDAQ:SCLX) Issues Quarterly Earnings Results

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

Scilex Trading Down 4.3 %

Shares of NASDAQ:SCLX traded down $0.02 on Friday, hitting $0.45. 1,221,324 shares of the company were exchanged, compared to its average volume of 1,365,526. The stock’s 50 day moving average price is $0.55 and its 200 day moving average price is $1.00. Scilex has a 1-year low of $0.38 and a 1-year high of $2.63. The firm has a market capitalization of $86.11 million, a P/E ratio of -0.31 and a beta of 1.06.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SCLX. Alliance Global Partners assumed coverage on Scilex in a research 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 price target on shares of Scilex in a research note on Monday, October 21st.

Insider Buying and Selling

In other Scilex news, insider Jaisim Shah bought 32,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were purchased at an average cost of $0.99 per share, for a total transaction of $31,680.00. Following the transaction, the insider now directly owns 109,333 shares of the company’s stock, valued at approximately $108,239.67. The trade was a 41.38 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have acquired 70,888 shares of company stock worth $53,835. 8.73% of the stock is owned by company insiders.

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.