Heatwurx (NASDAQ:PCSA) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Heatwurx (NASDAQ:PCSA) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Separately, HC Wainwright dropped their price target on Heatwurx from $6.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2.00.

Heatwurx Price Performance

Heatwurx stock opened at $0.21 on Tuesday. The company has a market capitalization of $10.65 million, a P/E ratio of -0.09 and a beta of 1.32. The business has a 50 day moving average of $0.22 and a 200-day moving average of $0.31. Heatwurx has a 1 year low of $0.15 and a 1 year high of $1.50.

Heatwurx (NASDAQ:PCSA) last issued its earnings results on Thursday, August 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). Equities analysts anticipate that Heatwurx 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.