Heatwurx Inc. (NASDAQ:PCSA) Short Interest Update

Heatwurx Inc. (NASDAQ:PCSA) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 67,319 shares, a drop of 68.8% from the July 30th total of 215,851 shares. Based on an average daily volume of 78,571 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Heatwurx in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Heatwurx currently has an average rating of “Hold” and an average price target of $25.00.

Heatwurx Trading Down 2.3%

Shares of NASDAQ:PCSA opened at $2.13 on Thursday. Heatwurx has a 52 week low of $1.67 and a 52 week high of $14.24. The company has a market cap of $5.90 million, a PE ratio of -0.50 and a beta of 0.99. The company’s 50 day moving average is $2.22 and its two-hundred day moving average is $2.46.

Heatwurx (NASDAQ:PCSA) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.19).

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.