Processa Pharmaceuticals (NASDAQ:PCSA) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Processa Pharmaceuticals (NASDAQ:PCSA) issued its quarterly earnings data on Thursday. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.02, Zacks reports.

Processa Pharmaceuticals Stock Performance

Shares of PCSA stock traded up $0.00 during trading hours on Thursday, hitting $0.43. 59,565 shares of the company were exchanged, compared to its average volume of 765,590. The stock has a market capitalization of $1.39 million, a price-to-earnings ratio of -0.13 and a beta of 0.75. Processa Pharmaceuticals has a one year low of $0.40 and a one year high of $3.31. The business’s 50-day simple moving average is $0.61 and its two-hundred day simple moving average is $0.97.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Processa Pharmaceuticals in a research report on Thursday, December 5th.

Insider Buying and Selling at Processa Pharmaceuticals

In related news, CEO George K. Ng purchased 87,200 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were acquired at an average cost of $0.80 per share, with a total value of $69,760.00. Following the completion of the purchase, the chief executive officer now owns 87,200 shares of the company’s stock, valued at $69,760. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Young bought 124,500 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were bought at an average cost of $0.80 per share, with a total value of $99,600.00. Following the transaction, the insider now directly owns 205,405 shares of the company’s stock, valued at approximately $164,324. This trade represents a 153.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 224,100 shares of company stock worth $179,280 over the last 90 days. Insiders own 13.00% of the company’s stock.

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.