Scilex (NASDAQ:SCLX) Announces Earnings Results

Scilex (NASDAQ:SCLX) issued its earnings results on Friday. The company reported ($0.18) earnings per share (EPS) for the quarter, Zacks reports.

Scilex Price Performance

Shares of SCLX opened at $0.45 on Friday. Scilex has a 52-week low of $0.38 and a 52-week high of $2.63. The stock’s 50-day simple moving average is $0.54 and its 200 day simple moving average is $0.98.

Insider Buying and Selling at Scilex

In other news, insider Jaisim Shah bought 32,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were acquired at an average cost of $0.99 per share, for a total transaction of $31,680.00. Following the purchase, the insider now directly owns 109,333 shares of the company’s stock, valued at $108,239.67. This trade represents a 41.38 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 70,888 shares of company stock valued at $53,835 in the last quarter. 8.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SCLX has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Scilex in a research note on Monday, October 21st. Alliance Global Partners started coverage on shares of Scilex in a research report on Wednesday, October 16th. They issued a “buy” rating and a $14.00 price target on the 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.