60 Degrees Pharmaceuticals (NASDAQ:SXTP) Price Target Lowered to $4.20 at Ascendiant Capital Markets

60 Degrees Pharmaceuticals (NASDAQ:SXTP) had its price target dropped by stock analysts at Ascendiant Capital Markets from $11.20 to $4.20 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target would suggest a potential upside of 132.04% from the stock’s previous close.

A number of other brokerages also recently weighed in on SXTP. Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a report on Friday, March 27th. Wall Street Zen raised 60 Degrees Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, HC Wainwright boosted their price target on 60 Degrees Pharmaceuticals from $6.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.10.

60 Degrees Pharmaceuticals Price Performance

Shares of SXTP opened at $1.81 on Thursday. The company has a market capitalization of $4.78 million, a price-to-earnings ratio of -0.13 and a beta of 3.27. 60 Degrees Pharmaceuticals has a fifty-two week low of $1.29 and a fifty-two week high of $17.68. The business’s 50-day moving average is $2.73 and its 200-day moving average is $3.75.

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.