60 Degrees Pharmaceuticals (NASDAQ:SXTP) Issues Quarterly Earnings Results, Misses Expectations By $0.52 EPS

60 Degrees Pharmaceuticals (NASDAQ:SXTP) released its quarterly earnings results on Friday. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.52), FiscalAI reports. The company had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.44 million.

60 Degrees Pharmaceuticals Stock Down 4.8%

Shares of SXTP stock traded down $0.07 during mid-day trading on Friday, reaching $1.39. 21,402 shares of the company’s stock traded hands, compared to its average volume of 65,834. 60 Degrees Pharmaceuticals has a 12 month low of $1.29 and a 12 month high of $14.68. The company has a market cap of $3.67 million, a P/E ratio of -0.10 and a beta of 2.69. The company’s 50-day moving average price is $1.82 and its 200-day moving average price is $3.00.

Analysts Set New Price Targets

SXTP has been the topic of several recent analyst reports. Ascendiant Capital Markets cut their price target on shares of 60 Degrees Pharmaceuticals from $11.20 to $4.20 and set a “buy” rating on the stock in a report on Thursday, April 9th. Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, March 27th. Wall Street Zen cut shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Finally, HC Wainwright boosted their target price on shares of 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.10.

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.