Processa Pharmaceuticals (NASDAQ:PCSA) Earns Buy Rating from Analysts at HC Wainwright

Investment analysts at HC Wainwright began coverage on shares of Processa Pharmaceuticals (NASDAQ:PCSA) in a note issued to investors on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 272.09% from the stock’s previous close.

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

Processa Pharmaceuticals Stock Performance

Shares of Processa Pharmaceuticals stock opened at $2.15 on Thursday. The company’s 50 day moving average price is $2.19 and its 200-day moving average price is $5.59. Processa Pharmaceuticals has a 52-week low of $1.40 and a 52-week high of $18.00. The stock has a market capitalization of $6.14 million, a price-to-earnings ratio of -0.29 and a beta of 0.53.

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

Insider Activity at Processa Pharmaceuticals

In other Processa Pharmaceuticals news, insider David Young purchased 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average price of $2.45 per share, with a total value of $51,450.00. Following the completion of the purchase, the insider now directly owns 79,387 shares of the company’s stock, valued at approximately $194,498.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 acquired at an average cost of $2.70 per share, with a total value of $27,000.00. Following the transaction, the chief executive officer now owns 20,000 shares in the company, valued at approximately $54,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Young bought 21,000 shares of Processa Pharmaceuticals stock in a transaction on Wednesday, February 7th. The shares were purchased at an average price of $2.45 per share, for a total transaction of $51,450.00. Following 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 acquired a total of 41,500 shares of company stock worth $105,895 over the last quarter. 22.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust acquired a new position in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 quarter. 91.93% of the stock is currently 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.