Ascendiant Capital Markets Issues Pessimistic Forecast for 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Stock Price

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its price target dropped by equities researchers at Ascendiant Capital Markets from $3.00 to $2.80 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective would suggest a potential upside of 161.68% from the company’s current price.

SXTP has been the subject of several other research reports. Weiss Ratings reiterated a “sell (e)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Wednesday, November 19th. Zacks Research upgraded shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research report on Tuesday, November 18th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of 60 Degrees Pharmaceuticals in a research note on Friday, November 14th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.40.

60 Degrees Pharmaceuticals Trading Up 1.9%

60 Degrees Pharmaceuticals stock opened at $1.07 on Friday. 60 Degrees Pharmaceuticals has a twelve month low of $0.85 and a twelve month high of $12.45. The firm has a market capitalization of $4.53 million, a P/E ratio of -0.31 and a beta of 2.79. The stock’s fifty day simple moving average is $1.34 and its 200-day simple moving average is $1.68.

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