Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Short Interest Update

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 163,600 shares, an increase of 164.3% from the September 30th total of 61,900 shares. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is presently 0.2 days. Currently, 5.7% of the company’s stock are short sold.

Processa Pharmaceuticals Trading Up 0.8 %

PCSA stock opened at $1.31 on Friday. Processa Pharmaceuticals has a 12-month low of $1.19 and a 12-month high of $17.40. The stock’s 50 day simple moving average is $1.36 and its 200 day simple moving average is $1.67. The stock has a market capitalization of $4.27 million, a PE ratio of -0.33 and a beta of 0.59.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.03). On average, research analysts predict that Processa Pharmaceuticals will post -3.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Processa Pharmaceuticals in a research note on Thursday, October 3rd.

About Processa Pharmaceuticals

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.