Heatwurx (NASDAQ:PCSA) Downgraded to “Hold” Rating by Zacks Research

Heatwurx (NASDAQ:PCSA) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Separately, HC Wainwright dropped their price target on shares of 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2.00.

Heatwurx Stock Down 4.8%

Shares of NASDAQ:PCSA opened at $0.21 on Tuesday. The business has a 50 day moving average price of $0.23 and a 200 day moving average price of $0.31. The company has a market cap of $10.72 million, a price-to-earnings ratio of -0.09 and a beta of 1.32. Heatwurx has a twelve month low of $0.15 and a twelve month high of $1.50.

Heatwurx (NASDAQ:PCSA) last announced 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). Analysts anticipate that Heatwurx will post -4.05 EPS for the current year.

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.