60 Degrees Pharmaceuticals (NASDAQ:SXTP) Trading Up 0.6% – Still a Buy?

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) shares traded up 0.6% during mid-day trading on Thursday . The stock traded as high as $1.60 and last traded at $1.56. Approximately 44,614 shares were traded during trading, a decline of 72% from the average session volume of 161,937 shares. The stock had previously closed at $1.55.

Analysts Set New Price Targets

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

60 Degrees Pharmaceuticals Stock Performance

The firm has a market capitalization of $4.15 million, a price-to-earnings ratio of -0.17 and a beta of 2.47. The business has a 50-day moving average price of $1.54 and a two-hundred day moving average price of $2.22.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its quarterly earnings data on Friday, May 15th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.52). The company had revenue of $0.16 million during the quarter, compared to analyst estimates of $0.43 million. On average, equities research analysts predict that 60 Degrees Pharmaceuticals Inc. will post -3.3 earnings per share for the current fiscal year.

About 60 Degrees Pharmaceuticals

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.