60 Degrees Pharmaceuticals (NASDAQ:SXTP) Shares Down 9.6% – Time to Sell?

Shares of 60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) were down 9.6% on Friday . The company traded as low as $0.75 and last traded at $0.7590. Approximately 125,964 shares changed 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 Ratings Changes

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

60 Degrees Pharmaceuticals Stock Down 9.6%

The firm has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.52. The company has a market capitalization of $3.21 million, a P/E ratio of -0.22 and a beta of 2.82.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its earnings results on Thursday, November 13th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.55. The company had revenue of ($0.01) million for the quarter, compared to analyst estimates of $0.38 million. On average, analysts predict that 60 Degrees Pharmaceuticals Inc. will post -5.09 EPS 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.