Scilex (NASDAQ:SCLX - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($7.42) earnings per share for the quarter, missing the consensus estimate of ($4.55) by ($2.87), Zacks reports. The company had revenue of $9.90 million for the quarter, compared to the consensus estimate of $26.25 million.
Scilex Trading Up 1.5%
SCLX traded up $0.27 during trading hours on Monday, hitting $18.35. The company's stock had a trading volume of 186,200 shares, compared to its average volume of 123,496. The business's 50-day moving average price is $9.35 and its 200-day moving average price is $8.61. Scilex has a 12 month low of $3.60 and a 12 month high of $46.20. The stock has a market cap of $127.68 million, a price-to-earnings ratio of -0.63 and a beta of 1.32.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Scilex stock. Goldman Sachs Group Inc. increased its stake in Scilex Holding Company (NASDAQ:SCLX - Free Report) by 31.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,352 shares of the company's stock after acquiring an additional 32,449 shares during the period. Goldman Sachs Group Inc. owned approximately 1.96% of Scilex worth $34,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 69.67% of the company's stock.
Scilex Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Scilex, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Scilex wasn't on the list.
While Scilex currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
