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

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

60 Degrees Pharmaceuticals Stock Performance

NASDAQ SXTP traded down $0.26 during trading hours on Friday, hitting $0.91. The company had a trading volume of 398,327 shares, compared to its average volume of 68,711. The firm has a market capitalization of $3.73 million, a price-to-earnings ratio of -0.12 and a beta of 2.79. 60 Degrees Pharmaceuticals has a 52 week low of $0.85 and a 52 week high of $12.45. The firm has a 50 day simple moving average of $1.41 and a 200 day simple moving average of $1.78.

Wall Street Analyst Weigh In

SXTP has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of 60 Degrees Pharmaceuticals in a report on Friday. Ascendiant Capital Markets cut their price target on 60 Degrees Pharmaceuticals from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Finally, Weiss Ratings restated a “sell (e)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Thursday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.50.

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.