Zacks: Brokerages Anticipate Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) Will Post Earnings of -$0.21 Per Share

Equities research analysts predict that Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) will announce ($0.21) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Processa Pharmaceuticals’ earnings. Processa Pharmaceuticals posted earnings per share of ($0.55) in the same quarter last year, which would suggest a positive year-over-year growth rate of 61.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 11th.

According to Zacks, analysts expect that Processa Pharmaceuticals will report full year earnings of ($0.78) per share for the current year. For the next year, analysts forecast that the business will post earnings of ($0.97) per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Processa Pharmaceuticals.

Processa Pharmaceuticals (NASDAQ:PCSA) last released its quarterly earnings results on Thursday, August 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05).

Separately, Oppenheimer started coverage on Processa Pharmaceuticals in a research report on Monday, August 2nd. They set an “outperform” rating and a $20.00 target price for the company.

In other news, CEO David Young purchased 10,000 shares of the company’s stock in a transaction on Wednesday, June 23rd. The shares were acquired at an average price of $7.67 per share, for a total transaction of $76,700.00. Following the purchase, the chief executive officer now owns 345,190 shares in the company, valued at $2,647,607.30. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last quarter, insiders have acquired 17,000 shares of company stock worth $121,650. Company insiders own 25.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PCSA. Vectors Research Management LLC acquired a new position in Processa Pharmaceuticals in the 2nd quarter worth about $33,000. Coastal Bridge Advisors LLC raised its holdings in shares of Processa Pharmaceuticals by 37.5% during the second quarter. Coastal Bridge Advisors LLC now owns 27,500 shares of the company’s stock valued at $225,000 after acquiring an additional 7,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Processa Pharmaceuticals by 34.4% during the second quarter. Geode Capital Management LLC now owns 37,400 shares of the company’s stock valued at $306,000 after acquiring an additional 9,575 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Processa Pharmaceuticals during the first quarter valued at approximately $115,000. Finally, Northern Trust Corp acquired a new position in shares of Processa Pharmaceuticals during the first quarter valued at approximately $140,000. Hedge funds and other institutional investors own 8.78% of the company’s stock.

PCSA traded up $0.35 during trading hours on Friday, reaching $7.35. 105,266 shares of the company’s stock traded hands, compared to its average volume of 77,819. The firm has a 50-day moving average price of $6.50 and a 200 day moving average price of $7.98. Processa Pharmaceuticals has a 52-week low of $3.40 and a 52-week high of $14.24. The firm has a market capitalization of $114.70 million, a PE ratio of -2.85 and a beta of 0.31.

Processa Pharmaceuticals Company Profile

Processa Pharmaceuticals, Inc engages in the discovery, development, and commercialization of drug products for the treatment of serious medical conditions. Its lead product candidate is PCS499, which is intended for the treatment of Necrobiosis Lipoidica. The company was founded by David Young, Patrick Lin, Sian E.

Featured Article: What is Net Asset Value (NAV)?

Get a free copy of the Zacks research report on Processa Pharmaceuticals (PCSA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Processa Pharmaceuticals (NASDAQ:PCSA)

Receive News & Ratings for Processa Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Processa Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.