Processa Pharmaceuticals (NASDAQ:PCSA) Announces Earnings Results, Beats Estimates By $0.18 EPS

Processa Pharmaceuticals (NASDAQ:PCSA) issued its earnings results on Thursday. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.18, Zacks reports.

Processa Pharmaceuticals Stock Up 1.2 %

PCSA opened at $0.43 on Monday. The firm has a 50 day moving average price of $0.59 and a 200-day moving average price of $0.95. Processa Pharmaceuticals has a twelve month low of $0.40 and a twelve month high of $3.31. The stock has a market capitalization of $1.40 million, a price-to-earnings ratio of -0.13 and a beta of 0.75.

Analysts Set New Price Targets

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

Insider Activity at Processa Pharmaceuticals

In other news, insider David Young purchased 124,500 shares of the company’s stock in a transaction on Monday, January 27th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now directly owns 205,405 shares in the company, valued at $164,324. This trade represents a 153.88 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George K. Ng purchased 87,200 shares of the company’s stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $0.80 per share, with a total value of $69,760.00. Following the completion of the transaction, the chief executive officer now owns 87,200 shares of the company’s stock, valued at approximately $69,760. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 224,100 shares of company stock worth $179,280. 13.00% of the stock is owned by company insiders.

Processa Pharmaceuticals Company Profile

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.