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

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP)’s stock is going to reverse split on Tuesday, January 20th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, January 19th.

60 Degrees Pharmaceuticals Stock Down 2.4%

NASDAQ SXTP opened at $0.47 on Friday. The company has a market cap of $1.97 million, a price-to-earnings ratio of -0.13 and a beta of 2.98. 60 Degrees Pharmaceuticals has a twelve month low of $0.34 and a twelve month high of $6.00. The business’s fifty day moving average is $0.84 and its 200 day moving average is $1.29.

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

Wall Street Analysts Forecast Growth

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

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.