Processa Pharmaceuticals’ (PCSA) Buy Rating Reaffirmed at HC Wainwright

Posted by Jeff Wilder on Aug 2nd, 2024

HC Wainwright reiterated their buy rating on shares of Processa Pharmaceuticals (NASDAQ:PCSA – Free Report) in a report released on Thursday morning, Benzinga reports. HC Wainwright currently has a $8.00 target price on the stock.

Processa Pharmaceuticals Price Performance

NASDAQ PCSA traded down $0.17 during midday trading on Thursday, hitting $1.92. 420,995 shares of the company traded hands, compared to its average volume of 1,693,928. Processa Pharmaceuticals has a 52 week low of $1.40 and a 52 week high of $18.00. The company’s 50-day simple moving average is $1.79 and its 200-day simple moving average is $2.19. The company has a market cap of $5.49 million, a PE ratio of -0.37 and a beta of 0.60.

Processa Pharmaceuticals (NASDAQ:PCSA – Get Free Report) last issued its quarterly earnings data on Friday, May 10th. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.07. On average, research analysts predict that Processa Pharmaceuticals will post -3.9 earnings per share for the current year.

Hedge Funds Weigh In On Processa Pharmaceuticals

A hedge fund recently bought a new stake in Processa Pharmaceuticals stock. Spinnaker Trust acquired a new stake in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned about 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.

Processa Pharmaceuticals Company Profile

(Get Free Report)

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.