What is HC Wainwright’s Forecast for Scilex Q3 Earnings?

Scilex Holding (NASDAQ:SCLX) – Equities research analysts at HC Wainwright issued their Q3 2024 earnings per share (EPS) estimates for shares of Scilex in a report released on Monday, October 21st. HC Wainwright analyst R. Selvaraju expects that the company will post earnings of ($0.10) per share for the quarter. HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Scilex’s current full-year earnings is ($1.06) per share. HC Wainwright also issued estimates for Scilex’s Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.45) EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at ($0.01) EPS and FY2025 earnings at ($0.11) EPS.

Scilex (NASDAQ:SCLX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.02. The firm had revenue of $16.37 million for the quarter, compared to the consensus estimate of $13.17 million.

Separately, Alliance Global Partners began coverage on shares of Scilex in a research report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price objective for the company.

Scilex Price Performance

Shares of SCLX stock opened at $0.97 on Wednesday. Scilex has a 1 year low of $0.73 and a 1 year high of $2.63. The company’s fifty day simple moving average is $1.02 and its two-hundred day simple moving average is $1.24. The stock has a market capitalization of $186.11 million, a price-to-earnings ratio of -0.72 and a beta of 1.15.

Hedge Funds Weigh In On Scilex

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCLX. Cannon Global Investment Management LLC bought a new position in Scilex during the 1st quarter valued at about $40,000. Vanguard Group Inc. boosted its position in Scilex by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,988,265 shares of the company’s stock worth $6,341,000 after purchasing an additional 55,757 shares during the last quarter. Donald L. Hagan LLC grew its stake in shares of Scilex by 59.5% during the 2nd quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock valued at $219,000 after purchasing an additional 42,245 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Scilex during the 2nd quarter valued at about $31,000. Finally, XTX Topco Ltd lifted its stake in shares of Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock worth $203,000 after purchasing an additional 80,409 shares during the period. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Insider Transactions at Scilex

In other news, insider Jaisim Shah acquired 30,000 shares of the stock in a transaction dated Wednesday, October 16th. The stock was purchased at an average cost of $0.99 per share, with a total value of $29,700.00. Following the completion of the purchase, the insider now owns 77,333 shares in the company, valued at approximately $76,559.67. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have bought 56,700 shares of company stock worth $55,199. Insiders own 8.73% 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.