Short Interest in Heatwurx Inc. (NASDAQ:PCSA) Declines By 69.3%

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 30,093 shares, a drop of 69.3% from the December 31st total of 98,000 shares. Based on an average daily trading volume, of 114,015 shares, the short-interest ratio is currently 0.3 days. Approximately 1.4% of the shares of the company are short sold. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 114,015 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Heatwurx in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Heatwurx from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Heatwurx Price Performance

Shares of Heatwurx stock remained flat at $3.14 during trading on Thursday. The company had a trading volume of 22,896 shares, compared to its average volume of 81,511. The stock has a 50 day moving average of $4.47 and a 200-day moving average of $5.73. The firm has a market capitalization of $7.13 million, a PE ratio of -0.09 and a beta of 1.13. Heatwurx has a fifty-two week low of $2.74 and a fifty-two week high of $20.22.

Heatwurx (NASDAQ:PCSA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.00) by $0.25. Sell-side analysts forecast that Heatwurx will post -4.05 EPS for the current fiscal year.

Heatwurx Company Profile

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.