Drugmaker Scilex gains after H.C. Wainwright initiates coverage with 'buy'

Scilex Holding

09/10/2023 17:56

** Shares of drugmaker Scilex Holding  SCLX.O  rise ~16.6%
to $1.83 after brokerage H.C. Wainwright initiates stock
coverage with "buy" rating, sets PT at $12
    ** Price target represents a more than 7 fold upside to
stock's last close at $1.57
    ** Wainwright says Scilex's portfolio of non-opioid pain
relief agents facilitates market uptake due to the extensive
familiarity that specialist prescribers already have with these
compounds
    ** Including session moves, stock down ~55% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))