Key Points
- CEO Geoffrey Dow bought 7,350 shares of 60 Degrees Pharmaceuticals at $1.38 each on June 12, increasing his direct stake by 43.8% to 24,131 shares.
- SXTP shares rose 9.6% and opened at $1.49, even though the stock remains far below its 52-week high of $10.77 and the company has a small market cap of about $3.96 million.
- The company recently reported a wider-than-expected quarterly loss, with EPS of -$1.28 versus estimates of -$0.76, while analysts currently rate the stock a consensus “Hold” with an average target price of $13.85.
60 Degrees Pharmaceuticals Inc. (NASDAQ:SXTP - Get Free Report) CEO Geoffrey Dow acquired 7,350 shares of the stock in a transaction on Friday, June 12th. The stock was purchased at an average cost of $1.38 per share, with a total value of $10,143.00. Following the transaction, the chief executive officer directly owned 24,131 shares of the company's stock, valued at $33,300.78. This represents a 43.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
60 Degrees Pharmaceuticals Stock Up 9.6%
Shares of NASDAQ:SXTP opened at $1.49 on Tuesday. 60 Degrees Pharmaceuticals Inc. has a 52-week low of $1.22 and a 52-week high of $10.77. The company has a 50 day moving average of $1.59 and a two-hundred day moving average of $2.49. The company has a market capitalization of $3.96 million, a price-to-earnings ratio of -0.17 and a beta of 2.65.
60 Degrees Pharmaceuticals (NASDAQ:SXTP - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.52). The business had revenue of $0.16 million for the quarter, compared to the consensus estimate of $0.44 million. On average, equities analysts anticipate that 60 Degrees Pharmaceuticals Inc. will post -3.3 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on SXTP shares. Wall Street Zen downgraded shares of 60 Degrees Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, April 12th. Ascendiant Capital Markets decreased their price target on shares of 60 Degrees Pharmaceuticals from $4.20 to $3.70 and set a "buy" rating for the company in a research report on Friday, May 22nd. HC Wainwright downgraded shares of 60 Degrees Pharmaceuticals from a "buy" rating to a "neutral" rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of 60 Degrees Pharmaceuticals in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, 60 Degrees Pharmaceuticals currently has an average rating of "Hold" and an average target price of $13.85.
Read Our Latest Stock Analysis on SXTP
About 60 Degrees Pharmaceuticals
(
Get Free Report)
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.
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