Scilex (NASDAQ:SCLX) Price Target Lowered to $18.00 at D. Boral Capital

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

Scilex Stock Performance

Shares of NASDAQ SCLX traded down $0.00 during midday trading on Wednesday, reaching $0.25. 300,890 shares of the stock were exchanged, compared to its average volume of 1,432,087. The stock has a market capitalization of $61.80 million, a P/E ratio of -0.31 and a beta of 1.04. The company has a 50 day simple moving average of $0.32 and a 200 day simple moving average of $0.56. Scilex has a twelve month low of $0.21 and a twelve month high of $2.30.

Scilex (NASDAQ:SCLX - Get Free Report) last posted its earnings results on Friday, January 17th. The company reported ($0.18) EPS for the quarter. On average, research analysts expect that Scilex will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On Scilex

A number of institutional investors have recently made changes to their positions in SCLX. Janus Henderson Group PLC increased its holdings in Scilex by 3.5% in the 3rd quarter. Janus Henderson Group PLC now owns 534,302 shares of the company's stock valued at $494,000 after purchasing an additional 17,848 shares during the last quarter. State Street Corp boosted its position in shares of Scilex by 0.7% during the third quarter. State Street Corp now owns 7,484,310 shares of the company's stock worth $6,920,000 after buying an additional 54,404 shares during the period. Donald L. Hagan LLC grew its stake in shares of Scilex by 32.5% in the fourth quarter. Donald L. Hagan LLC now owns 173,292 shares of the company's stock valued at $74,000 after buying an additional 42,500 shares in the last quarter. Norges Bank purchased a new stake in shares of Scilex in the 4th quarter valued at $204,000. Finally, Northern Trust Corp lifted its stake in Scilex by 64.0% during the 4th quarter. Northern Trust Corp now owns 1,273,968 shares of the company's stock worth $543,000 after acquiring an additional 497,182 shares in the last quarter. 69.67% of the stock is currently owned by institutional investors and hedge funds.

About Scilex

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.