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

Scilex (NASDAQ:SCLX) had its price objective decreased by D. Boral Capital from $22.00 to $18.00 in a research note published on Wednesday,Benzinga reports. D. Boral Capital currently has a buy rating on the stock.

Scilex Stock Performance

Shares of NASDAQ:SCLX opened at $0.30 on Wednesday. The firm has a market capitalization of $72.39 million, a P/E ratio of -0.36 and a beta of 1.15. The stock has a 50 day moving average price of $0.33 and a 200-day moving average price of $0.57. Scilex has a 52-week low of $0.21 and a 52-week high of $2.30.

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

Hedge Funds Weigh In On Scilex

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Scilex by 0.7% in the 3rd 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 last quarter. Northern Trust Corp grew its stake in shares of Scilex by 64.0% in the fourth 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 during the last quarter. RA Capital Management L.P. increased its holdings in shares of Scilex by 296.7% during the fourth quarter. RA Capital Management L.P. now owns 1,036,218 shares of the company’s stock valued at $442,000 after acquiring an additional 775,039 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Scilex by 28.7% in the 4th quarter. Janus Henderson Group PLC now owns 687,547 shares of the company’s stock worth $293,000 after purchasing an additional 153,245 shares during the last quarter. Finally, Norges Bank bought a new position in Scilex in the 4th quarter worth about $204,000. 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.