Heatwurx (NASDAQ:PCSA) Trading Up 10.5% – What’s Next?

Shares of Heatwurx Inc. (NASDAQ:PCSA) shot up 10.5% during mid-day trading on Thursday . The company traded as high as $2.73 and last traded at $2.64. 110,559 shares were traded during trading, an increase of 107% from the average session volume of 53,320 shares. The stock had previously closed at $2.39.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PCSA. Weiss Ratings reissued a “sell (e+)” rating on shares of Heatwurx in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of Heatwurx from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Heatwurx currently has an average rating of “Hold” and an average price target of $25.00.

Heatwurx Stock Performance

The company has a market cap of $7.26 million, a P/E ratio of -0.28 and a beta of 1.01. The firm’s fifty day moving average is $2.72 and its two-hundred day moving average is $3.59.

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.