Market Analysts see Scilex Holding Company [SCLX] gaining to $4. Time to buy?

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Scilex Holding Company [NASDAQ: SCLX] traded at a low on Thursday, posting a -23.08 loss after which it closed the day’ session at $0.90.

The results of the trading session contributed to over 2815799 shares changing hands. Over the past one week, the price volatility of Scilex Holding Company stands at 13.93% while the volatility over the past one month is 9.47%.

The market cap for SCLX stock reached $149.57 million, with 166.19 million shares outstanding and 102.88 million shares in the current float. Compared to the average trading volume of 936.69K shares, SCLX reached a trading volume of 2815799 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Scilex Holding Company [SCLX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SCLX shares is $6.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SCLX stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Scilex Holding Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 16, 2023. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on October 13, 2023, representing the official price target for Scilex Holding Company stock. Previously, the target price had yet another raise to $12, while H.C. Wainwright analysts kept a Buy rating on SCLX stock.

The Average True Range (ATR) for Scilex Holding Company is set at 0.14, with the Price to Sales ratio for SCLX stock in the period of the last 12 months amounting to 3.20.

How has SCLX stock performed recently?

Scilex Holding Company [SCLX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.77. With this latest performance, SCLX shares dropped by -33.33% in over the last four-week period, additionally sinking by -50.55% over the last 6 months – not to mention a drop of -93.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SCLX stock in for the last two-week period is set at 22.17, with the RSI for the last a single of trading hit 13.40, and the three-weeks RSI is set at 29.25 for Scilex Holding Company [SCLX]. The present Moving Average for the last 50 days of trading for this stock 1.5267, while it was recorded at 1.1680 for the last single week of trading, and 2.2747 for the last 200 days.

Scilex Holding Company [SCLX]: Deeper insight into the fundamentals

Scilex Holding Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.17 and a Current Ratio set at 0.19.

Insider trade positions for Scilex Holding Company [SCLX]

The top three institutional holders of SCLX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SCLX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SCLX stock with ownership which is approximately 5.8386%.

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