Processa Pharmaceuticals (NASDAQ:PCSA) Earns “Hold” Rating from Maxim Group

Maxim Group reissued their hold rating on shares of Processa Pharmaceuticals (NASDAQ:PCSA) in a research note issued to investors on Friday, Benzinga reports.

Processa Pharmaceuticals Stock Performance

Shares of PCSA stock opened at $0.42 on Friday. The stock has a market cap of $10.46 million, a price-to-earnings ratio of -0.37 and a beta of 0.11. Processa Pharmaceuticals has a 52-week low of $0.18 and a 52-week high of $2.24. The firm’s 50-day moving average is $0.34 and its 200-day moving average is $0.44.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its quarterly earnings results on Monday, November 13th. The company reported ($0.08) earnings per share for the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of Processa Pharmaceuticals during the second quarter worth approximately $141,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Processa Pharmaceuticals during the fourth quarter valued at about $54,000. Renaissance Technologies LLC purchased a new position in Processa Pharmaceuticals during the second quarter worth about $33,000. Two Sigma Securities LLC purchased a new position in Processa Pharmaceuticals in the first quarter valued at about $31,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Processa Pharmaceuticals in the third quarter valued at approximately $28,000. 5.67% of the stock is owned by institutional investors.

Processa Pharmaceuticals Company Profile

Processa Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on developing the 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.