Zacks Small Cap Analysts Lower Earnings Estimates for Scilex Holding (NASDAQ:SCLX)

Scilex Holding (NASDAQ:SCLX) – Research analysts at Zacks Small Cap decreased their Q3 2024 earnings per share (EPS) estimates for shares of Scilex in a report issued on Wednesday, August 14th. Zacks Small Cap analyst B. Sorensen now expects that the company will post earnings of ($0.30) per share for the quarter, down from their previous estimate of ($0.25). The consensus estimate for Scilex’s current full-year earnings is ($0.74) per share. Zacks Small Cap also issued estimates for Scilex’s Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($1.19) EPS, Q1 2025 earnings at ($0.16) EPS, Q2 2025 earnings at ($0.18) EPS, Q3 2025 earnings at ($0.17) EPS, FY2025 earnings at ($0.67) EPS and FY2026 earnings at ($0.63) EPS.

Several other equities research analysts have also issued reports on SCLX. Rodman & Renshaw assumed coverage on shares of Scilex in a research note on Thursday, June 13th. They issued a “buy” rating and a $13.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Scilex in a research note on Monday, June 17th.

Scilex Stock Down 0.8 %

SCLX stock opened at $1.23 on Monday. The firm has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.43. Scilex has a 12 month low of $0.73 and a 12 month high of $4.08. The company has a market capitalization of $235.90 million, a price-to-earnings ratio of -0.94 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new position in Scilex in the 2nd quarter worth approximately $25,000. Armistice Capital LLC acquired a new stake in Scilex during the second quarter worth $23,064,000. XTX Topco Ltd increased its holdings in Scilex by 321.4% in the 2nd quarter. XTX Topco Ltd now owns 105,431 shares of the company’s stock valued at $203,000 after buying an additional 80,409 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Scilex in the 2nd quarter valued at $31,000. Finally, Donald L. Hagan LLC boosted its position in shares of Scilex by 59.5% during the 2nd quarter. Donald L. Hagan LLC now owns 113,292 shares of the company’s stock valued at $219,000 after acquiring an additional 42,245 shares in the last quarter. Institutional investors own 69.67% of the company’s 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.