Processa Pharmaceuticals (NASDAQ:PCSA) Now Covered by HC Wainwright

Investment analysts at HC Wainwright assumed coverage on shares of Processa Pharmaceuticals (NASDAQ:PCSA) in a report issued on Thursday, MarketBeat.com reports. The firm set a “buy” rating and a $8.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 272.09% from the stock’s current price.

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

Processa Pharmaceuticals Stock Down 11.5 %

Processa Pharmaceuticals stock opened at $2.15 on Thursday. The stock has a market cap of $6.14 million, a PE ratio of -0.29 and a beta of 0.53. Processa Pharmaceuticals has a 12-month low of $1.40 and a 12-month high of $18.00. The business’s 50-day moving average price is $2.19 and its two-hundred day moving average price is $5.59.

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

Insider Buying and Selling

In related news, CEO George K. Ng bought 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 owns 20,000 shares of the company’s stock, valued at $54,000. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, CEO George K. Ng purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average price of $2.70 per share, with a total value of $27,000.00. Following the completion of the purchase, the chief executive officer now owns 20,000 shares in the company, valued at approximately $54,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Young bought 21,000 shares of the firm’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 transaction, 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 acquired a total of 41,500 shares of company stock valued at $105,895 over the last 90 days. 22.20% of the stock is owned by insiders.

Institutional Trading of Processa Pharmaceuticals

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust bought a new position in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned 6.25% of Processa Pharmaceuticals at the end of the most recent reporting period. 91.93% of the stock is owned by institutional investors and hedge funds.

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.