Scilex (NASDAQ:SCLX) Receives “Buy” Rating from D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of Scilex (NASDAQ:SCLX) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $22.00 price target on the stock.

Scilex Trading Up 3.5 %

Scilex stock opened at $0.24 on Friday. Scilex has a 12 month low of $0.21 and a 12 month high of $2.63. The stock’s 50 day moving average is $0.40 and its 200-day moving average is $0.71. The company has a market capitalization of $57.42 million, a price-to-earnings ratio of -0.28 and a beta of 1.06.

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

Institutional Investors Weigh In On Scilex

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of Scilex by 28.7% in the fourth quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock valued at $293,000 after buying an additional 153,245 shares during the period. RA Capital Management L.P. boosted its stake in shares of Scilex by 296.7% in the fourth quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock valued at $442,000 after buying an additional 775,039 shares during the period. Jane Street Group LLC boosted its stake in shares of Scilex by 965.8% in the fourth quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock valued at $137,000 after buying an additional 291,316 shares during the period. Northern Trust Corp boosted its stake in shares of Scilex by 64.0% in the fourth quarter. Northern Trust Corp now owns 1,273,968 shares of the company’s stock valued at $543,000 after buying an additional 497,182 shares during the period. Finally, Norges Bank bought a new stake in shares of Scilex in the fourth quarter valued at approximately $204,000. 69.67% of the stock is currently owned by institutional investors.

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.