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

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

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

Processa Pharmaceuticals Stock Down 11.5 %

Shares of PCSA stock opened at $2.15 on Thursday. The stock has a fifty day moving average of $2.19 and a 200 day moving average of $5.61. Processa Pharmaceuticals has a 52 week low of $1.40 and a 52 week high of $18.00. The firm has a market capitalization of $6.15 million, a price-to-earnings ratio of -0.29 and a beta of 0.53.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its quarterly earnings data on Friday, March 29th. The company reported ($0.24) earnings per share (EPS) for the quarter. Equities research analysts anticipate that Processa Pharmaceuticals will post -3.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David Young acquired 21,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was acquired at an average price 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 in the company, valued at $194,498.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David Young purchased 21,000 shares of Processa Pharmaceuticals 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 directly owns 79,387 shares of the company’s stock, valued at $194,498.15. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George K. Ng purchased 10,000 shares of Processa Pharmaceuticals stock in a transaction dated Tuesday, January 30th. The shares were bought at an average price of $2.70 per share, with a total value of $27,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $54,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 41,500 shares of company stock worth $105,895. 22.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Processa Pharmaceuticals

A hedge fund recently bought a new stake in Processa Pharmaceuticals stock. Spinnaker Trust purchased a new stake in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 91.93% of the company’s stock.

About Processa Pharmaceuticals

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.