60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) Short Interest Update

60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 177,572 shares, an increase of 81.6% from the December 15th total of 97,803 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average daily trading volume, of 263,642 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 263,642 shares, the short-interest ratio is currently 0.7 days. Currently, 4.3% of the shares of the company are sold short.

Analysts Set New Price Targets

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

60 Degrees Pharmaceuticals Stock Performance

60 Degrees Pharmaceuticals stock traded up $0.14 during trading on Friday, reaching $0.61. The company had a trading volume of 3,271,029 shares, compared to its average volume of 703,686. The firm has a market capitalization of $2.58 million, a PE ratio of -0.18 and a beta of 2.98. The firm’s 50-day simple moving average is $0.84 and its 200 day simple moving average is $1.29. 60 Degrees Pharmaceuticals has a 1-year low of $0.34 and a 1-year high of $6.00.

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

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.