Scilex (NASDAQ:SCLX) Raised to “Sell” at Wall Street Zen

Scilex (NASDAQ:SCLX – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Scilex from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Scilex has an average rating of “Sell”.

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Scilex Price Performance

SCLX stock opened at $5.41 on Friday. The company has a market cap of $45.93 million, a price-to-earnings ratio of -0.11 and a beta of 1.65. The company has a fifty day moving average price of $6.99 and a 200 day moving average price of $7.28. Scilex has a 12 month low of $4.20 and a 12 month high of $34.27.

Scilex (NASDAQ:SCLX – Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($16.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($16.47). The business had revenue of $7.64 million for the quarter, compared to the consensus estimate of $16.00 million.

Hedge Funds Weigh In On Scilex

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Scilex by 189.6% in the third quarter. BNP Paribas Financial Markets now owns 7,430 shares of the company’s stock valued at $146,000 after buying an additional 4,864 shares in the last quarter. Bank of America Corp DE raised its position in Scilex by 81.0% in the third quarter. Bank of America Corp DE now owns 17,387 shares of the company’s stock worth $342,000 after acquiring an additional 7,783 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Scilex in the fourth quarter valued at $150,000. Norges Bank acquired a new stake in Scilex in the second quarter valued at $80,000. Finally, Renaissance Technologies LLC lifted its holdings in Scilex by 100.7% in the fourth quarter. Renaissance Technologies LLC now owns 38,464 shares of the company’s stock valued at $469,000 after acquiring an additional 19,300 shares during the period. 69.67% of the stock is owned by institutional investors and hedge funds.

About Scilex

(Get Free Report)

Scilex Holdings, Inc (NASDAQ: SCLX) is a specialty pharmaceutical company focused on non-opioid treatments for chronic pain. The firm’s principal commercial product, ZTlido®, is a lidocaine topical system approved by the U.S. Food and Drug Administration for the management of post-herpetic neuralgia and certain peripheral neuropathic pain conditions. By leveraging a proprietary drug delivery platform, Scilex aims to improve patient comfort and safety compared to traditional oral analgesics.

In addition to marketing ZTlido® in the United States, Scilex is advancing other pain management assets through clinical development and regulatory pathways.

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