Analysts Set Expectations for Processa Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:PCSA)

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) – Research analysts at HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for Processa Pharmaceuticals in a research report issued on Thursday, April 25th. HC Wainwright analyst R. Selvaraju forecasts that the company will post earnings per share of ($1.18) for the quarter. HC Wainwright currently has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for Processa Pharmaceuticals’ current full-year earnings is ($3.82) per share. HC Wainwright also issued estimates for Processa Pharmaceuticals’ Q2 2024 earnings at ($0.90) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.84) EPS, FY2024 earnings at ($3.82) EPS and FY2025 earnings at ($1.89) EPS.

Separately, Benchmark restated a “speculative buy” rating on shares of Processa Pharmaceuticals in a report on Wednesday, March 6th.

Processa Pharmaceuticals Price Performance

Shares of PCSA opened at $2.18 on Monday. Processa Pharmaceuticals has a one year low of $1.40 and a one year high of $18.00. The company has a 50-day simple moving average of $2.18 and a two-hundred day simple moving average of $5.53. The firm has a market capitalization of $6.23 million, a PE ratio of -0.29 and a beta of 0.53.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its earnings results on Friday, March 29th. The company reported ($0.24) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Processa Pharmaceuticals

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust purchased a new stake in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned approximately 6.25% of Processa Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 91.93% of the company’s stock.

Insiders Place Their Bets

In other Processa Pharmaceuticals news, insider David Young bought 21,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was purchased 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 owns 79,387 shares of the company’s stock, valued at $194,498.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.20% of the stock is currently owned by company insiders.

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.