Heatwurx Inc. (NASDAQ:PCSA) Short Interest Update

Heatwurx Inc. (NASDAQ:PCSA) was the target of a significant drop in short interest during 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. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 114,015 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 114,015 shares, the short-interest ratio is presently 0.3 days. Currently, 1.4% of the company’s shares are sold short.

Heatwurx Stock Down 4.5%

Shares of PCSA traded down $0.14 during trading hours on Friday, reaching $3.00. The stock had a trading volume of 34,378 shares, compared to its average volume of 82,710. The company has a market cap of $6.80 million, a P/E ratio of -0.09 and a beta of 1.13. Heatwurx has a 52 week low of $2.74 and a 52 week high of $19.64. The firm has a 50-day moving average of $4.40 and a 200 day moving average of $5.72.

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

Analysts Set New Price Targets

PCSA has been the topic of a number of research reports. Wall Street Zen upgraded shares of Heatwurx from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a report on Thursday, January 22nd. One equities research 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. According to MarketBeat.com, the company currently has a consensus 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.