60 Degrees Pharmaceuticals (NASDAQ:SXTP) Issues Earnings Results

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

60 Degrees Pharmaceuticals Stock Up 1.3%

Shares of 60 Degrees Pharmaceuticals stock opened at $1.20 on Friday. The stock has a market cap of $3.18 million, a price-to-earnings ratio of -0.13 and a beta of 2.54. 60 Degrees Pharmaceuticals has a twelve month low of $1.05 and a twelve month high of $8.62. The company’s fifty day moving average is $1.47 and its 200 day moving average is $2.02.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, June 24th. HC Wainwright cut 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Wednesday, May 20th. Finally, Ascendiant Capital Markets decreased their target price on 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating on the stock in a research report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.85.

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.