60 Degrees Pharmaceuticals (NASDAQ:SXTP) Stock Price Down 6.4% – Should You Sell?

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP)’s stock price fell 6.4% during mid-day trading on Friday . The stock traded as low as $1.11 and last traded at $1.17. 141,412 shares traded hands during trading, an increase of 22% from the average session volume of 115,534 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

SXTP has been the topic of a number of analyst reports. Ascendiant Capital Markets decreased their price objective on 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Wall Street Zen lowered 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, June 24th. Finally, HC Wainwright cut 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 20th. One 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.com, 60 Degrees Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $13.85.

60 Degrees Pharmaceuticals Price Performance

The stock has a market cap of $3.11 million, a P/E ratio of -0.13 and a beta of 2.47. The firm’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $2.12.

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