Processa Pharmaceuticals (NASDAQ:PCSA) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of Processa Pharmaceuticals (NASDAQ:PCSAFree Report) in a research report report published on Wednesday, Benzinga reports. The firm currently has 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.

Read Our Latest Stock Analysis on PCSA

Processa Pharmaceuticals Price Performance

Shares of Processa Pharmaceuticals stock opened at $1.75 on Wednesday. Processa Pharmaceuticals has a 1 year low of $1.40 and a 1 year high of $18.00. The firm’s 50-day moving average is $1.91 and its two-hundred day moving average is $4.13. The stock has a market cap of $5.01 million, a price-to-earnings ratio of -0.35 and a beta of 0.52.

Processa Pharmaceuticals (NASDAQ:PCSAGet Free Report) last issued its earnings results on Friday, May 10th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.18) by $0.07. On average, equities analysts expect that Processa Pharmaceuticals will post -3.9 earnings per share for the current year.

Institutional Trading of 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:PCSAFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission. Hedge funds and other institutional investors own 91.93% of the company’s stock.

Processa Pharmaceuticals Company Profile

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Processa Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, develops 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.

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