Processa Pharmaceuticals (NASDAQ:PCSA) Posts Earnings Results, Beats Expectations By $0.02 EPS

Processa Pharmaceuticals (NASDAQ:PCSA) released its earnings results on Thursday. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.02, Zacks reports.

Processa Pharmaceuticals Stock Up 0.2 %

Processa Pharmaceuticals stock traded up $0.00 during mid-day trading on Thursday, reaching $0.43. The company had a trading volume of 58,965 shares, compared to its average volume of 765,590. The company has a 50 day moving average of $0.61 and a 200-day moving average of $0.97. The firm has a market cap of $1.39 million, a price-to-earnings ratio of -0.13 and a beta of 0.75. Processa Pharmaceuticals has a 52 week low of $0.40 and a 52 week high of $3.31.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Processa Pharmaceuticals in a research note on Thursday, December 5th.

Insider Transactions at Processa Pharmaceuticals

In other news, insider David Young bought 124,500 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was acquired at an average price of $0.80 per share, for a total transaction of $99,600.00. Following the transaction, the insider now directly owns 205,405 shares of the company’s stock, valued at $164,324. This trade represents a 153.88 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO George K. Ng acquired 87,200 shares of the stock in a transaction on Monday, January 27th. The stock was bought at an average price of $0.80 per share, with a total value of $69,760.00. Following the transaction, the chief executive officer now directly owns 87,200 shares in the company, valued at approximately $69,760. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 224,100 shares of company stock valued at $179,280. Company insiders own 13.00% of the company’s stock.

Processa Pharmaceuticals Company Profile

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.