Processa Pharmaceuticals, Inc. to Post Q1 2024 Earnings of ($1.18) Per Share, HC Wainwright Forecasts (NASDAQ:PCSA)

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) – HC Wainwright issued their Q1 2024 earnings per share (EPS) estimates for shares of Processa Pharmaceuticals in a research note issued to investors on Thursday, April 25th. HC Wainwright analyst R. Selvaraju forecasts that the company will post earnings per share of ($1.18) for the quarter. HC Wainwright currently has a “Buy” rating and a $8.00 target price on the stock. The consensus estimate for Processa Pharmaceuticals’ current full-year earnings is ($3.82) per share. HC Wainwright also issued estimates for Processa Pharmaceuticals’ Q2 2024 earnings at ($0.90) EPS, Q3 2024 earnings at ($0.99) EPS, Q4 2024 earnings at ($0.84) EPS, FY2024 earnings at ($3.82) EPS and FY2025 earnings at ($1.89) EPS.

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

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

Processa Pharmaceuticals Trading Down 11.5 %

PCSA stock opened at $2.15 on Monday. Processa Pharmaceuticals has a 1-year low of $1.40 and a 1-year high of $18.00. The business’s 50 day moving average is $2.19 and its 200-day moving average is $5.61. The firm has a market cap of $6.15 million, a P/E ratio of -0.29 and a beta of 0.53.

Hedge Funds Weigh In On Processa Pharmaceuticals

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust acquired a new position in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund 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. 91.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Processa Pharmaceuticals news, CEO George K. Ng bought 10,000 shares of Processa Pharmaceuticals stock in a transaction dated Tuesday, January 30th. The shares were acquired 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Processa Pharmaceuticals news, CEO George K. Ng bought 10,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was bought at an average cost 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 in the company, valued at approximately $54,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 acquired at an average cost of $2.45 per share, with a total value of $51,450.00. Following the completion of the acquisition, the insider now directly owns 79,387 shares of the company’s stock, valued at $194,498.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 41,500 shares of company stock worth $105,895. Insiders own 22.20% of the company’s stock.

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.