60 Degrees Pharmaceuticals (NASDAQ:SXTP) Trading 0.6% Higher – Time to Buy?

Shares of 60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) shot up 0.6% on Thursday . The stock traded as high as $1.60 and last traded at $1.56. Approximately 44,614 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 161,937 shares. The stock had previously closed at $1.55.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Wednesday, June 24th. HC Wainwright downgraded shares of 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Finally, Ascendiant Capital Markets lowered their price target on shares of 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating for the company in a research report on Friday, May 22nd. One investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.85.

60 Degrees Pharmaceuticals Trading Up 0.6%

The stock has a market capitalization of $4.15 million, a P/E ratio of -0.17 and a beta of 2.47. The company has a 50-day moving average price of $1.54 and a 200 day moving average price of $2.22.

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