Processa Pharmaceuticals (NASDAQ:PCSA) Stock Price Down 3.7% – Here’s What Happened

Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) fell 3.7% on Thursday . The stock traded as low as $1.29 and last traded at $1.30. 17,543 shares changed hands during trading, a decline of 99% from the average session volume of 1,241,034 shares. The stock had previously closed at $1.35.

Analysts Set New Price Targets

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, October 3rd.

Processa Pharmaceuticals Stock Performance

The stock has a fifty day moving average of $1.36 and a 200-day moving average of $1.68. The company has a market cap of $3.72 million, a PE ratio of -0.26 and a beta of 0.59.

Processa Pharmaceuticals (NASDAQ:PCSA) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.03). As a group, equities analysts anticipate that Processa Pharmaceuticals, Inc. will post -3.78 EPS for the current fiscal year.

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.