Scilex (SCLX) to Release Earnings on Wednesday

Scilex (NASDAQ:SCLX) is anticipated to release its results before the market opens on Wednesday, November 12th. Analysts expect Scilex to post earnings of ($0.41) per share and revenue of $26.25 million for the quarter.

Scilex (NASDAQ:SCLX) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($7.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.55) by ($2.87). The company had revenue of $9.90 million during the quarter, compared to analysts’ expectations of $26.25 million. On average, analysts expect Scilex to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Scilex Price Performance

NASDAQ:SCLX opened at $18.81 on Monday. Scilex has a 12 month low of $3.60 and a 12 month high of $34.28. The business’s 50-day moving average is $20.10 and its two-hundred day moving average is $12.76. The firm has a market capitalization of $142.77 million, a PE ratio of -1.18 and a beta of 1.34.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Scilex in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Scilex presently has an average rating of “Reduce” and an average price target of $630.00.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Scilex stock. Goldman Sachs Group Inc. grew its position in Scilex Holding Company (NASDAQ:SCLX) by 31.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,352 shares of the company’s stock after acquiring an additional 32,449 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.96% of Scilex worth $34,000 as of its most recent filing with the Securities and Exchange Commission. 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.