60 Degrees Pharmaceuticals (NASDAQ:SXTP) Posts Quarterly Earnings Results, Misses Estimates By $0.16 EPS

60 Degrees Pharmaceuticals (NASDAQ:SXTP) posted its earnings results on Friday. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.16), FiscalAI reports. The company had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.18 million.

60 Degrees Pharmaceuticals Price Performance

Shares of SXTP stock opened at $1.20 on Friday. 60 Degrees Pharmaceuticals has a 1-year low of $1.05 and a 1-year high of $8.62. The company has a market cap of $3.18 million, a price-to-earnings ratio of -0.13 and a beta of 2.54. The stock has a 50 day simple moving average of $1.47 and a 200-day simple moving average of $2.02.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SXTP. Ascendiant Capital Markets cut their price objective 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. HC Wainwright lowered shares of 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.85.

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.