Q2 2024 EPS Estimates for Processa Pharmaceuticals, Inc. Reduced by HC Wainwright (NASDAQ:PCSA)

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) – Analysts at HC Wainwright dropped their Q2 2024 earnings per share (EPS) estimates for shares of Processa Pharmaceuticals in a research note issued to investors on Monday, May 13th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of ($0.98) for the quarter, down from their prior forecast of ($0.90). HC Wainwright has a “Buy” rating and a $8.00 price target 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’ Q3 2024 earnings at ($1.02) EPS, FY2024 earnings at ($3.90) EPS and FY2025 earnings at ($2.11) EPS.

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

Processa Pharmaceuticals Stock Down 1.0 %

NASDAQ:PCSA opened at $2.00 on Wednesday. The company has a market cap of $5.72 million, a price-to-earnings ratio of -0.40 and a beta of 0.53. Processa Pharmaceuticals has a 52 week low of $1.40 and a 52 week high of $18.00. The company has a fifty day simple moving average of $2.15 and a two-hundred day simple moving average of $5.05.

Processa Pharmaceuticals (NASDAQ:PCSA) last announced its quarterly earnings data on Friday, May 10th. The company reported ($1.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.07.

Institutional Investors Weigh In On Processa Pharmaceuticals

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust bought a new stake in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 institutional investors and hedge funds.

About Processa Pharmaceuticals

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.