HC Wainwright Reiterates Buy Rating for Processa Pharmaceuticals (NASDAQ:PCSA)

Processa Pharmaceuticals (NASDAQ:PCSA)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $8.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 280.95% from the stock’s current price.

Processa Pharmaceuticals Stock Performance

NASDAQ:PCSA opened at $2.10 on Thursday. The stock has a fifty day moving average price of $1.78 and a 200-day moving average price of $2.20. Processa Pharmaceuticals has a fifty-two week low of $1.40 and a fifty-two week high of $18.00. The company has a market cap of $6.01 million, a price-to-earnings ratio of -0.42 and a beta of 0.60.

Processa Pharmaceuticals (NASDAQ:PCSA) last announced its quarterly earnings data on Friday, May 10th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate of ($1.18) by $0.07. Research analysts predict that Processa Pharmaceuticals will post -3.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust acquired a new stake in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned about 6.25% of Processa Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 91.93% 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.