60 Degrees Pharmaceuticals (SXTP, Financial) has released a report indicating that the prevalence of babesiosis in the United States might be much higher than previously estimated by the Centers for Disease Control and Prevention (CDC). According to preliminary results from an online survey conducted by the company, approximately 3 million Americans might have been diagnosed with babesiosis at some point in their lives. This sharply contrasts with CDC's report of 1,834 cases in 2020.
The survey's findings suggest that the current methodologies and timeframes used by the CDC might be underestimating or underreporting this tick-borne illness. As a result, the demand for effective treatments for babesiosis may be greater than current public health data indicates. The survey, conducted by Format Analytics among 6,000 individuals, aimed to reflect the U.S. adult demographic and showcase the potential commercial market for babesiosis treatments in development.
Babesiosis is a severe disease that is often co-infected with Lyme disease, particularly affecting immunocompromised and elderly individuals. The study highlighted that approximately 17 percent of those diagnosed had experienced symptoms lasting six months or longer, affecting at least 570,000 U.S. adults with chronic disease. Furthermore, about 3.7 percent of survey respondents reported chronic fatigue lasting beyond six months, equating to roughly 9.9 million Americans, with 56 percent of them having been formally diagnosed with Chronic Fatigue Syndrome (CFS).
The survey results also pointed out a significant discrepancy when compared to a 2021/2022 CDC telephone survey that found only 1.3 percent of respondents had received a formal diagnosis of CFS. These findings suggest a potential underestimation of chronic fatigue and related health issues in existing public health data.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for 60 Degrees Pharmaceuticals Inc (SXTP, Financial) is $5.80 with a high estimate of $5.80 and a low estimate of $5.80. The average target implies an upside of 83.54% from the current price of $3.16. More detailed estimate data can be found on the 60 Degrees Pharmaceuticals Inc (SXTP) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, 60 Degrees Pharmaceuticals Inc's (SXTP, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
