Ascendiant Capital Markets Cuts 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Price Target to $3.00

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its target price cut by Ascendiant Capital Markets from $7.00 to $3.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on SXTP. Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Saturday, August 30th. Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3.00.

60 Degrees Pharmaceuticals Stock Down 4.7%

60 Degrees Pharmaceuticals stock opened at $1.41 on Wednesday. The company’s 50-day moving average price is $1.59 and its 200-day moving average price is $2.07. 60 Degrees Pharmaceuticals has a twelve month low of $1.22 and a twelve month high of $12.45. The company has a market cap of $5.78 million, a PE ratio of -0.03 and a beta of 2.73.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its earnings results on Wednesday, August 13th. The company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.01). The firm had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.32 million. As a group, sell-side analysts expect that 60 Degrees Pharmaceuticals will post -5.09 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.