Heatwurx Inc. (NASDAQ:PCSA) Sees Significant Decrease in Short Interest

Heatwurx Inc. (NASDAQ:PCSA) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 3,454,719 shares, a drop of 36.4% from the November 30th total of 5,434,144 shares. Currently, 156.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,992,460 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 1,992,460 shares, the days-to-cover ratio is presently 1.7 days. Currently, 156.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCSA. Wall Street Zen upgraded shares of Heatwurx to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a research report on Wednesday, October 8th. Finally, HC Wainwright decreased their price target on Heatwurx from $50.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Heatwurx has a consensus rating of “Hold” and an average price target of $25.00.

Heatwurx Price Performance

PCSA traded down $0.51 during midday trading on Monday, reaching $3.41. 221,200 shares of the company’s stock were exchanged, compared to its average volume of 511,174. The business’s 50-day moving average price is $6.74 and its 200 day moving average price is $6.19. The stock has a market capitalization of $7.74 million, a PE ratio of -0.10 and a beta of 1.10. Heatwurx has a 1-year low of $2.74 and a 1-year high of $27.00.

Heatwurx (NASDAQ:PCSA) last posted its earnings results on Thursday, November 6th. The company reported ($1.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.25. As a group, analysts expect that Heatwurx will post -4.05 EPS for the current fiscal year.

About Heatwurx

Processa Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops chemotherapy drugs to improve the safety and efficacy of cancer treatment. Its drugs are modifications of existing FDA-approved oncology drugs resulting in an alteration of the metabolism and/or distribution of drugs while maintaining the existing mechanisms of killing the cancer cells. The company's pipeline includes three chemotherapy drugs comprising Gemcitabine, PCS3117 that has completed Phase 2a clinical trials to treat pancreatic, biliary tract, lung, ovarian, breast, and other cancers; Capecitabine, a combination of PCS6422 and capecitabine that has completed Phase 1b clinical trials to treat metastatic colorectal, gastrointestinal, breast, pancreatic, and other cancers; and Irinotecan, PCS11T that is in pre-clinical studies to treat lung, colorectal, gastrointestinal, pancreatic, and other cancers.