60 Degrees Pharmaceuticals (NASDAQ:SXTP) Stock Falls 0.9% – What’s Next?

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP)’s stock price dropped 0.9% on Wednesday. The company traded as low as $1.0081 and last traded at $1.10. 153,817 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 236,185 shares. The stock had previously closed at $1.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.85.

60 Degrees Pharmaceuticals Stock Performance

The firm has a market capitalization of $3.40 million, a price-to-earnings ratio of -0.20 and a beta of 2.40. The firm has a fifty day moving average price of $1.09 and a 200 day moving average price of $1.42.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its earnings results on Friday, August 14th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.16). The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.20 million. Research analysts predict that 60 Degrees Pharmaceuticals Inc. will post -3.31 earnings per share for the current fiscal year.

60 Degrees Pharmaceuticals Company Profile

60 Degrees Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for infectious and tropical diseases. The company’s lead product is Arakoda (tafenoquine), an oral antimalarial approved by the U.S. Food and Drug Administration for the prevention of malaria in adults.

Arakoda is designed for use as a malaria-prophylaxis regimen before, during and after travel to areas where malaria is present. The product is marketed in the United States, and 60 Degrees Pharmaceuticals has also pursued opportunities to expand access through international partnerships and regulatory development.

The company was founded in 2010 and is headquartered in Washington, DC In addition to its malaria business, 60 Degrees Pharmaceuticals has evaluated tafenoquine and related therapies for other infectious diseases, including babesiosis, an emerging tick-borne disease.