60 Degrees Pharmaceuticals (NASDAQ:SXTP) Shares Down 6.4% – Time to Sell?

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP)’s share price fell 6.4% during mid-day trading on Friday . The stock traded as low as $1.11 and last traded at $1.17. 141,412 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 115,534 shares. The stock had previously closed at $1.25.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. HC Wainwright lowered shares of 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 20th. Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Ascendiant Capital Markets cut their target price on shares of 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating for the company in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, 60 Degrees Pharmaceuticals has an average rating of “Hold” and a consensus price target of $13.85.

60 Degrees Pharmaceuticals Stock Performance

The stock has a 50 day moving average of $1.53 and a two-hundred day moving average of $2.12. The firm has a market capitalization of $3.11 million, a P/E ratio of -0.13 and a beta of 2.47.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its quarterly earnings data on Friday, May 15th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.52). The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.43 million. Sell-side analysts predict that 60 Degrees Pharmaceuticals Inc. will post -3.3 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.