Heatwurx (NASDAQ:PCSA) Trading Down 10% – What’s Next?

Shares of Heatwurx Inc. (NASDAQ:PCSA) dropped 10% during mid-day trading on Tuesday . The company traded as low as $1.88 and last traded at $1.89. Approximately 63,136 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 65,086 shares. The stock had previously closed at $2.10.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Heatwurx in a report on Tuesday, April 21st. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.00.

Heatwurx Stock Up 4.2%

The company has a market cap of $5.45 million, a P/E ratio of -0.21 and a beta of 0.99. The stock’s 50-day moving average price is $2.40 and its 200 day moving average price is $2.68.

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.