HC Wainwright Raises 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Price Target to $24.00

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its price objective upped by analysts at HC Wainwright from $6.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 419.03% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SXTP. Ascendiant Capital Markets lowered their price target on 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating for the company in a report on Friday, November 28th. Zacks Research upgraded shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.60.

60 Degrees Pharmaceuticals Stock Performance

SXTP traded down $0.22 on Tuesday, reaching $4.62. 176,631 shares of the company’s stock were exchanged, compared to its average volume of 11,954,390. 60 Degrees Pharmaceuticals has a twelve month low of $1.36 and a twelve month high of $24.00. The company’s 50 day moving average is $3.18 and its 200-day moving average is $4.77. The company has a market cap of $4.90 million, a price-to-earnings ratio of -1.36 and a beta of 2.98.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($2.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.84) by $2.20. The business had revenue of ($0.01) million for the quarter, compared to analysts’ expectations of $0.38 million. Sell-side analysts forecast that 60 Degrees Pharmaceuticals 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.