Processa Pharmaceuticals (NASDAQ:PCSA) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Processa Pharmaceuticals (NASDAQ:PCSA) in a report issued on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $8.00 target price on the stock.

Separately, Benchmark reiterated a speculative buy rating on shares of Processa Pharmaceuticals in a research note on Wednesday, March 6th.

Processa Pharmaceuticals Stock Performance

Processa Pharmaceuticals stock opened at $2.15 on Thursday. The firm has a 50 day moving average price of $2.19 and a two-hundred day moving average price of $5.61. The firm has a market cap of $6.15 million, a price-to-earnings ratio of -0.29 and a beta of 0.53. Processa Pharmaceuticals has a 52-week low of $1.40 and a 52-week high of $18.00.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its quarterly earnings data on Friday, March 29th. The company reported ($0.24) earnings per share for the quarter. As a group, equities research analysts predict that Processa Pharmaceuticals will post -3.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Young acquired 21,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were purchased at an average cost of $2.45 per share, with a total value of $51,450.00. Following the acquisition, the insider now directly owns 79,387 shares of the company’s stock, valued at $194,498.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO George K. Ng acquired 10,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost of $2.70 per share, with a total value of $27,000.00. Following the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $54,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Young purchased 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $51,450.00. Following the completion of the acquisition, the insider now directly owns 79,387 shares in the company, valued at approximately $194,498.15. The disclosure for this purchase can be found here. Insiders have bought 41,500 shares of company stock valued at $105,895 in the last three months. 22.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Processa Pharmaceuticals

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust purchased a new position in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned about 6.25% of Processa Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 91.93% of the stock is currently owned by institutional investors and hedge funds.

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.