HC Wainwright initiated coverage on shares of Processa Pharmaceuticals (NASDAQ:PCSA – Free Report) in a report issued on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $8.00 target price on the stock.
Separately, Benchmark reiterated a speculative buy rating on shares of Processa Pharmaceuticals in a research note on Wednesday, March 6th.
Check Out Our Latest Stock Analysis on Processa Pharmaceuticals
Processa Pharmaceuticals Stock Performance
Processa Pharmaceuticals (NASDAQ:PCSA – Get Free Report) last released its quarterly earnings data on Friday, March 29th. The company reported ($0.24) earnings per share for the quarter. As a group, equities research analysts predict that Processa Pharmaceuticals will post -3.82 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider David Young acquired 21,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were purchased at an average cost of $2.45 per share, with a total value of $51,450.00. Following the acquisition, the insider now directly owns 79,387 shares of the company’s stock, valued at $194,498.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO George K. Ng acquired 10,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost 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 $54,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Young purchased 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $51,450.00. Following the completion of the acquisition, the insider now directly owns 79,387 shares in the company, valued at approximately $194,498.15. The disclosure for this purchase can be found here. Insiders have bought 41,500 shares of company stock valued at $105,895 in the last three months. 22.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Processa Pharmaceuticals
An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust purchased a new position in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned about 6.25% of Processa Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 91.93% of the stock is currently owned by institutional investors and hedge funds.
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.
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