Now Is A Suitable Moment For A Long-Term Purchase Of Scilex Holding Company (NASDAQ: SCLX)

Currently, there are 191.79M common shares owned by the public and among those 116.21M shares have been available to trade.

The company’s stock has a 5-day price change of 20.10% and -43.25% over the past three months. SCLX shares are trading -52.43% year to date (YTD), with the 12-month market performance down to -40.83% lower. It has a 12-month low price of $0.73 and touched a high of $2.63 over the same period. SCLX has an average intraday trading volume of 1.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.99%, -4.93%, and -28.38% respectively.

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Institutional ownership of Scilex Holding Company (NASDAQ: SCLX) shares accounts for 20.92% of the company’s 191.79M shares outstanding.

It has a market capitalization of $186.11M and a beta (3y monthly) value of 1.17. The earnings-per-share (ttm) stands at -$1.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.77% over the week and 12.08% over the month.

Earnings per share for the fiscal year are expected to increase by 46.09%, and 43.00% over the next financial year.

Looking at the support for the SCLX, a number of firms have released research notes about the stock. Alliance Global Partners stated their Buy rating for the stock in a research note on October 16, 2024, with the firm’s price target at $14. Rodman & Renshaw coverage for the Scilex Holding Company (SCLX) stock in a research note released on June 13, 2024 offered a Buy rating with a price target of $13. B. Riley Securities was of a view on October 16, 2023 that the stock is Buy, while B. Riley Securities gave the stock Buy rating on October 13, 2023, issuing a price target of $4. H.C. Wainwright on their part issued Buy rating on October 09, 2023.

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