Processa Pharmaceuticals (NASDAQ:PCSA) Earns Buy Rating from Analysts at HC Wainwright

Equities research analysts at HC Wainwright initiated coverage on shares of Processa Pharmaceuticals (NASDAQ:PCSA) in a research note issued to investors on Thursday, Briefing.com reports. The firm set a “buy” rating and a $8.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 393.83% from the stock’s previous close.

Separately, Benchmark reiterated a “speculative buy” rating on shares of Processa Pharmaceuticals in a research note on Wednesday, March 6th.

Processa Pharmaceuticals Price Performance

PCSA opened at $1.62 on Thursday. The business’s 50-day moving average is $2.20 and its two-hundred day moving average is $5.63. Processa Pharmaceuticals has a 1 year low of $1.40 and a 1 year high of $18.00. The firm has a market capitalization of $4.63 million, a PE ratio of -0.22 and a beta of 0.53.

Insider Buying and Selling at Processa Pharmaceuticals

In related news, CEO George K. Ng bought 10,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were bought at an average price of $2.70 per share, for a total transaction of $27,000.00. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $54,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Processa Pharmaceuticals news, CEO George K. Ng purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were acquired at an average price of $2.70 per share, for a total transaction of $27,000.00. Following the completion of the purchase, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $54,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Young purchased 21,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were acquired at an average price of $2.45 per share, for a total transaction of $51,450.00. Following the purchase, the insider now directly owns 79,387 shares of the company’s stock, valued at approximately $194,498.15. The disclosure for this purchase can be found here. Insiders have purchased 41,500 shares of company stock worth $105,895 over the last quarter. Insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On Processa Pharmaceuticals

A hedge fund recently bought a new stake in Processa Pharmaceuticals stock. Spinnaker Trust bought a new position in shares of Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned 6.25% of Processa Pharmaceuticals as of its most recent SEC filing. 91.93% of the stock is currently owned by institutional investors.

Processa Pharmaceuticals Company Profile

Processa Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on developing the 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.