60 Degrees Pharmaceuticals (NASDAQ:SXTP) Shares to Reverse Split on Tuesday, January 20th

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) shares are set to reverse split on the morning of Tuesday, January 20th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, January 19th.

60 Degrees Pharmaceuticals Trading Down 2.4%

SXTP stock opened at $0.47 on Friday. 60 Degrees Pharmaceuticals has a 52 week low of $0.34 and a 52 week high of $6.00. The company has a market capitalization of $1.97 million, a price-to-earnings ratio of -0.13 and a beta of 2.98. The firm’s 50-day moving average is $0.84 and its two-hundred day moving average is $1.29.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.55. The company had revenue of ($0.01) million during the quarter, compared to analyst estimates of $0.38 million. On average, equities research analysts predict that 60 Degrees Pharmaceuticals will post -5.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research report on Monday, December 29th. Zacks Research raised 60 Degrees Pharmaceuticals to a “hold” rating in a report on Tuesday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of 60 Degrees Pharmaceuticals in a research report on Friday, November 14th. Finally, Ascendiant Capital Markets cut their price target on shares of 60 Degrees Pharmaceuticals from $3.00 to $2.80 and set a “buy” rating for the company in a report on Friday, November 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.40.

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.