60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Stock Short Interest Falls 38.3%

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 133,355 shares, a decrease of 38.3% from the September 15th total of 215,989 shares. Based on an average daily volume of 82,820 shares, the short-interest ratio is presently 1.6 days. Approximately 3.9% of the company’s stock are short sold.

60 Degrees Pharmaceuticals Trading Down 2.0%

Shares of NASDAQ SXTP traded down $0.02 during midday trading on Friday, hitting $0.88. The company’s stock had a trading volume of 6,739 shares, compared to its average volume of 1,487,333. The stock has a fifty day moving average price of $1.06 and a 200 day moving average price of $1.39. 60 Degrees Pharmaceuticals has a one year low of $0.83 and a one year high of $8.62. The firm has a market capitalization of $3.10 million, a price-to-earnings ratio of -0.18 and a beta of 2.40.

60 Degrees Pharmaceuticals (NASDAQ:SXTP) last posted its earnings results on Friday, August 14th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.16). The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.20 million. On average, equities research analysts predict that 60 Degrees Pharmaceuticals will post -3.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 60 Degrees Pharmaceuticals in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.85.

About 60 Degrees Pharmaceuticals

60 Degrees Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for infectious and tropical diseases. The company’s lead product is Arakoda (tafenoquine), an oral antimalarial approved by the U.S. Food and Drug Administration for the prevention of malaria in adults.

Arakoda is designed for use as a malaria-prophylaxis regimen before, during and after travel to areas where malaria is present. The product is marketed in the United States, and 60 Degrees Pharmaceuticals has also pursued opportunities to expand access through international partnerships and regulatory development.

The company was founded in 2010 and is headquartered in Washington, DC In addition to its malaria business, 60 Degrees Pharmaceuticals has evaluated tafenoquine and related therapies for other infectious diseases, including babesiosis, an emerging tick-borne disease.