Processa Pharmaceuticals (NASDAQ:PCSA) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Processa Pharmaceuticals Price Performance

PCSA traded up $0.00 during trading on Thursday, reaching $0.43. 59,565 shares of the company’s stock were exchanged, compared to its average volume of 765,590. The company’s fifty day simple moving average is $0.61 and its 200-day simple moving average is $0.97. The stock has a market capitalization of $1.39 million, a P/E ratio of -0.13 and a beta of 0.75. Processa Pharmaceuticals has a 1 year low of $0.40 and a 1 year high of $3.31.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO George K. Ng acquired 87,200 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were purchased at an average price of $0.80 per share, for a total transaction of $69,760.00. Following the acquisition, the chief executive officer now owns 87,200 shares of the company’s stock, valued at $69,760. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Young purchased 124,500 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was acquired at an average cost of $0.80 per share, with a total value of $99,600.00. Following the transaction, the insider now directly owns 205,405 shares in the company, valued at $164,324. This trade represents a 153.88 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 224,100 shares of company stock valued at $179,280 in the last three months. 13.00% of the stock is currently owned by corporate insiders.

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.