Ascendiant Capital Markets Cuts 60 Degrees Pharmaceuticals (NASDAQ:SXTP) Price Target to $3.00

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its target price decreased by Ascendiant Capital Markets from $7.00 to $3.00 in a report released on Wednesday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, June 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.00.

60 Degrees Pharmaceuticals Price Performance

Shares of SXTP stock opened at $1.41 on Wednesday. The company has a market capitalization of $5.78 million, a price-to-earnings ratio of -0.03 and a beta of 2.73. 60 Degrees Pharmaceuticals has a one year low of $1.22 and a one year high of $12.45. The company’s fifty day moving average price is $1.59 and its 200-day moving average price is $2.07.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($1.25) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.01). The firm had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.32 million. Equities research analysts expect that 60 Degrees Pharmaceuticals will post -5.09 earnings per share for the current fiscal 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.