60 Degrees Pharmaceuticals (NASDAQ:SXTP) Trading Down 6.4% – Time to Sell?

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) fell 6.4% during mid-day trading on Friday . The stock traded as low as $1.11 and last traded at $1.17. Approximately 141,412 shares traded hands during trading, an increase of 22% from the average session volume of 115,534 shares. The stock had previously closed at $1.25.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SXTP shares. Wall Street Zen lowered 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. HC Wainwright downgraded 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Ascendiant Capital Markets decreased their price target on 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a “buy” rating for the company in a research note on Friday, May 22nd. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.85.

60 Degrees Pharmaceuticals Stock Performance

The business’s 50 day moving average price is $1.53 and its two-hundred day moving average price is $2.12. The company has a market capitalization of $3.11 million, a price-to-earnings ratio of -0.13 and a beta of 2.47.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its quarterly earnings data on Friday, May 15th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.52). The firm had revenue of $0.16 million for the quarter, compared to analyst estimates of $0.43 million. On average, sell-side analysts expect that 60 Degrees Pharmaceuticals Inc. will post -3.3 earnings per share for the current 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.