HC Wainwright Forecasts Strong Price Appreciation for 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Stock

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its target price increased by HC Wainwright from $6.00 to $24.00 in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 361.54% from the stock’s current price.

Several other research firms have also recently weighed in on SXTP. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Monday, December 29th. Ascendiant Capital Markets dropped their target price on shares of 60 Degrees Pharmaceuticals from $12.00 to $11.20 and set a “buy” rating for the company in a research report on Friday, November 28th. Finally, Zacks Research upgraded shares of 60 Degrees Pharmaceuticals to a “hold” rating in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, 60 Degrees Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $17.60.

60 Degrees Pharmaceuticals Price Performance

Shares of NASDAQ:SXTP opened at $5.20 on Tuesday. The stock’s 50-day moving average is $3.22 and its 200 day moving average is $4.74. The company has a market cap of $5.51 million, a PE ratio of -1.50 and a beta of 2.98. 60 Degrees Pharmaceuticals has a 1 year low of $1.36 and a 1 year high of $24.00.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last released its quarterly earnings data on Thursday, November 13th. The company reported ($2.64) earnings per share for the quarter, topping the consensus estimate of ($4.84) by $2.20. The business had revenue of ($0.01) million during the quarter, compared to analysts’ expectations of $0.38 million. Analysts expect that 60 Degrees Pharmaceuticals will post -5.09 EPS for the current fiscal 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.