Heatwurx (NASDAQ:PCSA) Trading Up 122.3% – What’s Next?

Heatwurx Inc. (NASDAQ:PCSA) shares shot up 122.3% during mid-day trading on Wednesday . The stock traded as high as $8.88 and last traded at $6.68. 39,269,987 shares were traded during trading, an increase of 1,903% from the average session volume of 1,960,796 shares. The stock had previously closed at $3.0050.

Analyst Upgrades and Downgrades

PCSA has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Heatwurx in a research report on Wednesday, October 8th. Zacks Research cut Heatwurx from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, HC Wainwright cut their price objective on Heatwurx from $50.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

Heatwurx Stock Up 122.3%

The business has a fifty day moving average of $7.58 and a 200 day moving average of $6.41. The firm has a market cap of $378.36 million, a P/E ratio of -4.91 and a beta of 1.09.

Heatwurx (NASDAQ:PCSA) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.00) by $0.25. Research analysts expect that Heatwurx Inc. will post -4.05 EPS for the current year.

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.