60 Degrees Pharmaceuticals (NASDAQ:SXTP) Issues Earnings Results, Beats Expectations By $0.55 EPS

60 Degrees Pharmaceuticals (NASDAQ:SXTP) announced its quarterly earnings results on Thursday. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($1.21) by $0.55, Zacks reports. The firm had revenue of $0.53 million for the quarter, compared to analysts’ expectations of $0.38 million.

60 Degrees Pharmaceuticals Stock Performance

Shares of NASDAQ SXTP traded down $0.14 during mid-day trading on Friday, hitting $1.04. 200,426 shares of the stock traded hands, compared to its average volume of 785,528. The company has a market cap of $4.25 million, a price-to-earnings ratio of -0.14 and a beta of 2.79. The stock has a fifty day moving average price of $1.42 and a 200-day moving average price of $1.79. 60 Degrees Pharmaceuticals has a 52 week low of $0.85 and a 52 week high of $12.45.

Wall Street Analyst Weigh In

SXTP has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of 60 Degrees Pharmaceuticals in a research report on Friday. Finally, Ascendiant Capital Markets decreased their target price on 60 Degrees Pharmaceuticals from $7.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.50.

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.