60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Short Interest Update

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 97,803 shares, an increase of 80.9% from the November 30th total of 54,062 shares. Based on an average trading volume of 91,702 shares, the short-interest ratio is presently 1.1 days. Approximately 2.4% of the company’s shares are short sold. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 91,702 shares, the short-interest ratio is presently 1.1 days.

60 Degrees Pharmaceuticals Stock Performance

Shares of NASDAQ:SXTP opened at $0.70 on Friday. The business’s 50-day simple moving average is $1.09 and its 200 day simple moving average is $1.45. The company has a market cap of $2.94 million, a P/E ratio of -0.20 and a beta of 2.82. 60 Degrees Pharmaceuticals has a one year low of $0.65 and a one year high of $8.00.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.55. The company had revenue of ($0.01) million during the quarter, compared to analysts’ expectations of $0.38 million. Analysts predict that 60 Degrees Pharmaceuticals will post -5.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SXTP shares. Ascendiant Capital Markets cut their price objective on 60 Degrees Pharmaceuticals from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Friday, November 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday, December 22nd. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of 60 Degrees Pharmaceuticals in a report on Friday, November 14th. Finally, Zacks Research raised shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research report on Tuesday, November 18th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.40.

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.