Ascendiant Capital Markets Lowers 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Price Target to $3.70

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its price target decreased by equities researchers at Ascendiant Capital Markets from $4.20 to $3.70 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective would suggest a potential upside of 148.32% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. HC Wainwright downgraded 60 Degrees Pharmaceuticals from a “buy” rating to a “neutral” rating in a research report on Wednesday. Wall Street Zen downgraded 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, March 27th. One research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.85.

60 Degrees Pharmaceuticals Price Performance

Shares of SXTP opened at $1.49 on Friday. 60 Degrees Pharmaceuticals has a 1 year low of $1.29 and a 1 year high of $14.68. The company has a market capitalization of $3.96 million, a price-to-earnings ratio of -0.17 and a beta of 2.69. The business has a 50-day moving average of $1.77 and a 200-day moving average of $2.86.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last issued its quarterly earnings data on Friday, May 15th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.52). The firm had revenue of $0.16 million during the quarter, compared to the consensus estimate of $0.44 million. As a group, sell-side analysts anticipate that 60 Degrees Pharmaceuticals will post -2.7 EPS 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.