H.C. Wainwright adjusted the firm’s price target on 60 Degrees Pharmaceuticals (SXTP) to $24 from $6 and keeps a Buy rating on the shares after accounting for the 1-for-4 reverse split conducted on January 20. The firm’s price target is based on the value it assigns to 60 Degrees’ lead asset, tafenoquine, for babesiosis in the U.S. only, noting that it does not include sales of Arakoda in its estimates yet due to a lack of visibility and current revenue generation in the malaria market.
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