60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Stock Short Interest Report for September

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 133,355 shares, a decline of 38.3% from the September 15th total of 215,989 shares. Based on an average daily volume of 82,820 shares, the days-to-cover ratio is presently 1.6 days. Approximately 3.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.85.

60 Degrees Pharmaceuticals Stock Down 4.8%

SXTP stock opened at $0.86 on Friday. The stock has a market cap of $3.01 million, a PE ratio of -0.18 and a beta of 2.40. The firm’s 50-day simple moving average is $1.06 and its 200 day simple moving average is $1.39. 60 Degrees Pharmaceuticals has a fifty-two week low of $0.83 and a fifty-two week high of $8.62.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its earnings results on Friday, August 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.16). The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.20 million. Equities analysts forecast that 60 Degrees Pharmaceuticals will post -3.31 EPS for the current fiscal year.

About 60 Degrees Pharmaceuticals

60 Degrees Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for infectious and tropical diseases. The company’s lead product is Arakoda (tafenoquine), an oral antimalarial approved by the U.S. Food and Drug Administration for the prevention of malaria in adults.

Arakoda is designed for use as a malaria-prophylaxis regimen before, during and after travel to areas where malaria is present. The product is marketed in the United States, and 60 Degrees Pharmaceuticals has also pursued opportunities to expand access through international partnerships and regulatory development.

The company was founded in 2010 and is headquartered in Washington, DC In addition to its malaria business, 60 Degrees Pharmaceuticals has evaluated tafenoquine and related therapies for other infectious diseases, including babesiosis, an emerging tick-borne disease.