- 60 Degrees Pharmaceuticals, Inc. (SXTP, Financial) plans a 1-for-5 reverse stock split to comply with Nasdaq requirements.
- Analyst price target suggests significant upside potential with an average target of $17.00.
- Stock holds an "Outperform" recommendation with a rating of 2.5 from brokerage firms.
60 Degrees Pharmaceuticals, Inc. (SXTP) has announced a strategic 1-for-5 reverse stock split for its common shares. This move aims to align with Nasdaq's $1 minimum bid price rule, a critical metric for maintaining listing compliance. The effective date for this adjustment is set for February 24, 2025. Post-split, shares will continue trading under the current ticker, SXTP, but will carry a new CUSIP number, marking a new chapter for the pharmaceutical company.
Wall Street Analysts Forecast
According to projections from one financial analyst specializing in 60 Degrees Pharmaceuticals Inc (SXTP), there's an impressive upside potential. The average target price is set at $17.00, which is the unanimous high and low estimate, indicating a potential increase of 492.33% from the present trading price of $2.87. Investors seeking more in-depth data can explore the 60 Degrees Pharmaceuticals Inc (SXTP, Financial) Forecast page for further insights.
The consensus recommendation from two brokerage firms currently places 60 Degrees Pharmaceuticals Inc (SXTP) at an average rating of 2.5, aligning with an "Outperform" status. This rating, on a scale where 1 indicates Strong Buy and 5 represents Sell, suggests a favorable outlook from industry experts regarding the company’s potential market performance.
