Scilex (NASDAQ:SCLX) Given New $18.00 Price Target at D. Boral Capital

Scilex (NASDAQ:SCLX) had its target price reduced by D. Boral Capital from $22.00 to $18.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Scilex Trading Up 25.3 %

Shares of SCLX stock opened at $0.30 on Wednesday. Scilex has a 12-month low of $0.21 and a 12-month high of $2.30. The stock has a market capitalization of $72.39 million, a P/E ratio of -0.36 and a beta of 1.15. The firm’s 50 day moving average is $0.33 and its 200 day moving average is $0.57.

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

Institutional Trading of Scilex

Several large investors have recently added to or reduced their stakes in the business. Donald L. Hagan LLC boosted its stake in shares of Scilex by 32.5% during the 4th quarter. Donald L. Hagan LLC now owns 173,292 shares of the company’s stock worth $74,000 after acquiring an additional 42,500 shares during the last quarter. Jane Street Group LLC raised its holdings in Scilex by 965.8% in the 4th quarter. Jane Street Group LLC now owns 321,480 shares of the company’s stock worth $137,000 after purchasing an additional 291,316 shares during the period. Norges Bank purchased a new position in Scilex during the fourth quarter valued at $204,000. Janus Henderson Group PLC grew its holdings in Scilex by 28.7% during the fourth quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock valued at $293,000 after purchasing an additional 153,245 shares during the period. Finally, RA Capital Management L.P. increased its position in Scilex by 296.7% in the fourth quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock worth $442,000 after buying an additional 775,039 shares in the last quarter. 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.