Heatwurx Inc. (NASDAQ:PCSA) Short Interest Down 36.4% in December

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

Heatwurx Trading Up 11.7%

NASDAQ PCSA opened at $3.92 on Friday. The stock has a market cap of $8.88 million, a price-to-earnings ratio of -0.12 and a beta of 1.09. The company has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $6.22. Heatwurx has a 52 week low of $2.74 and a 52 week high of $27.00.

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

Analysts Set New Price Targets

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

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.