Scilex (SCLX) Expected to Announce Quarterly Earnings on Tuesday

Key Points

• Scilex (NASDAQ:SCLX) is expected to announce its quarterly earnings on Tuesday, August 12th, with analysts predicting a loss of $4.55 per share and revenue of $26.25 million.
• The stock recently traded down 6.9% to $13.93 amid a total trading volume lower than its average, with a 52-week range from $3.60 to $50.40.
• Goldman Sachs recently increased its stake in Scilex by 31.2%, owning approximately 1.96% of the company, while institutional investors hold about 69.67% of the stock.

Scilex (NASDAQ:SCLX - Get Free Report) is expected to issue its quarterly earnings data before the market opens on Tuesday, August 12th. Analysts expect the company to announce earnings of ($4.55) per share and revenue of $26.25 million for the quarter.

Scilex Trading Up 6.6%

Shares of SCLX stock opened at $14.91 on Thursday. Scilex has a 12 month low of $3.60 and a 12 month high of $50.40. The company has a market capitalization of $103.62 million, a P/E ratio of -0.51 and a beta of 1.32. The stock has a 50 day moving average of $7.73 and a two-hundred day moving average of $8.61.

Analyst Ratings Changes

SCLX has been the topic of a number of recent research reports. D Boral Capital downgraded shares of Scilex from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 11th. D. Boral Capital reissued a "hold" rating on shares of Scilex in a research note on Friday, April 11th.

Institutional Investors Weigh In On Scilex

An institutional investor recently raised its position in Scilex stock. Goldman Sachs Group Inc. raised its position in Scilex Holding Company (NASDAQ:SCLX - Free Report) by 31.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,352 shares of the company's stock after buying an additional 32,449 shares during the period. Goldman Sachs Group Inc. owned 1.96% of Scilex worth $34,000 as of its most recent SEC filing. Institutional investors own 69.67% of the company's stock.

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.