60 Degrees Pharmaceuticals (NASDAQ:SXTP) Stock Price Down 9.6% – Here’s What Happened

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP)’s share price was down 9.6% during mid-day trading on Friday . The company traded as low as $0.75 and last traded at $0.7590. Approximately 125,964 shares traded hands during mid-day trading, an increase of 84% from the average daily volume of 68,299 shares. The stock had previously closed at $0.8395.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of 60 Degrees Pharmaceuticals in a report on Friday, November 14th. Zacks Research raised shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research note on Tuesday, November 18th. Ascendiant Capital Markets cut their target price on shares of 60 Degrees Pharmaceuticals from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (e)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.40.

60 Degrees Pharmaceuticals Trading Down 9.6%

The firm’s 50-day moving average is $1.17 and its 200 day moving average is $1.53. The firm has a market capitalization of $3.21 million, a price-to-earnings ratio of -0.22 and a beta of 2.82.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.21) by $0.55. The business had revenue of ($0.01) million during the quarter, compared to analyst estimates of $0.38 million. Analysts predict that 60 Degrees Pharmaceuticals Inc. will post -5.09 EPS for the current year.

60 Degrees Pharmaceuticals Company Profile

60 Degrees Pharmaceuticals, Inc, a specialty pharmaceutical company, engages in the development and commercialization of therapies for the prevention and treatment of infectious diseases in the United States. The company offers Arakoda for malaria preventative treatment. It also engages in the development of Tafenoquine (Arakoda regimen) that is in Phase IIb clinical trial for COVID-19 indications; Tafenoquine, which is in phase IIA clinical trials for babesiosis, fungal pneumonias, and candidiasis disease; and Celgosivir for respiratory viruses and dengue.