Scilex Holding to Post Q2 2024 Earnings of ($0.14) Per Share, HC Wainwright Forecasts (NASDAQ:SCLX)

Scilex Holding (NASDAQ:SCLXFree Report) – Investment analysts at HC Wainwright cut their Q2 2024 earnings per share (EPS) estimates for shares of Scilex in a research note issued on Thursday, May 23rd. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings of ($0.14) per share for the quarter, down from their previous estimate of ($0.06). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for Scilex’s current full-year earnings is ($0.71) per share. HC Wainwright also issued estimates for Scilex’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.14) EPS.

Scilex (NASDAQ:SCLXGet Free Report) last issued its quarterly earnings data on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The company had revenue of $13.46 million for the quarter, compared to analysts’ expectations of $11.43 million.

Scilex Stock Up 3.7 %

Shares of SCLX stock opened at $1.13 on Monday. Scilex has a 12-month low of $0.73 and a 12-month high of $8.30. The firm has a fifty day moving average of $1.14 and a 200-day moving average of $1.40. The firm has a market capitalization of $204.74 million, a price-to-earnings ratio of -0.86 and a beta of 0.91.

Insiders Place Their Bets

In other Scilex news, Director Jay Chun purchased 57,500 shares of the stock in a transaction on Friday, May 17th. The stock was bought at an average cost of $0.90 per share, for a total transaction of $51,750.00. Following the completion of the acquisition, the director now directly owns 102,500 shares of the company’s stock, valued at $92,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jay Chun purchased 57,500 shares of the business’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $0.90 per share, with a total value of $51,750.00. Following the completion of the purchase, the director now owns 102,500 shares in the company, valued at approximately $92,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jaisim Shah purchased 83,061 shares of Scilex stock in a transaction dated Thursday, May 16th. The stock was bought at an average price of $0.84 per share, with a total value of $69,771.24. Following the acquisition, the insider now directly owns 98,943 shares of the company’s stock, valued at $83,112.12. The disclosure for this purchase can be found here. Corporate insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On Scilex

A number of large investors have recently added to or reduced their stakes in SCLX. Collective Family Office LLC boosted its position in shares of Scilex by 68.4% during the first quarter. Collective Family Office LLC now owns 21,950 shares of the company’s stock worth $35,000 after buying an additional 8,918 shares during the period. Donald L. Hagan LLC grew its stake in shares of Scilex by 49.1% during the 4th quarter. Donald L. Hagan LLC now owns 52,343 shares of the company’s stock worth $107,000 after acquiring an additional 17,245 shares in the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Scilex during the 1st quarter worth approximately $40,000. Focus Financial Network Inc. ADV acquired a new stake in shares of Scilex in the fourth quarter valued at approximately $58,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Scilex in the third quarter worth $68,000. Institutional investors own 69.67% of the company’s stock.

About Scilex

(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.

Featured Articles

Earnings History and Estimates for Scilex (NASDAQ:SCLX)

Receive News & Ratings for Scilex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scilex and related companies with MarketBeat.com's FREE daily email newsletter.