Processa Pharmaceuticals (NASDAQ:PCSA) Receives New Coverage from Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Processa Pharmaceuticals (NASDAQ:PCSA) in a research report report published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

Separately, Benchmark restated a speculative buy rating on shares of Processa Pharmaceuticals in a research report on Wednesday, March 6th.

Processa Pharmaceuticals Price Performance

NASDAQ:PCSA opened at $2.43 on Thursday. The business’s 50-day moving average is $2.20 and its two-hundred day moving average is $5.60. Processa Pharmaceuticals has a 12 month low of $1.40 and a 12 month high of $18.00.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its earnings results on Friday, March 29th. The company reported ($0.24) EPS for the quarter.

Insiders Place Their Bets

In other Processa Pharmaceuticals news, insider David Young bought 21,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was bought at an average cost of $2.45 per share, with a total value of $51,450.00. Following the completion of the transaction, the insider now directly owns 79,387 shares of the company’s stock, valued at approximately $194,498.15. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Processa Pharmaceuticals news, CEO George K. Ng purchased 10,000 shares of the stock in a transaction on Tuesday, January 30th. The shares were purchased at an average price of $2.70 per share, with a total value of $27,000.00. Following the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $54,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Young bought 21,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was purchased at an average cost of $2.45 per share, for a total transaction of $51,450.00. Following the acquisition, the insider now owns 79,387 shares in the company, valued at approximately $194,498.15. The disclosure for this purchase can be found here. Insiders acquired 41,500 shares of company stock valued at $105,895 over the last ninety days. Corporate 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 purchased a new stake in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned 6.25% of Processa Pharmaceuticals at the end of the most recent reporting period. 91.93% of the stock is owned by institutional investors and hedge funds.

About Processa Pharmaceuticals

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.