Processa Pharmaceuticals (NASDAQ:PCSA) Price Target Cut to $6.00

Processa Pharmaceuticals (NASDAQ:PCSA) had its price objective lowered by stock analysts at HC Wainwright from $8.00 to $6.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 297.35% from the stock’s previous close.

Processa Pharmaceuticals Price Performance

Shares of PCSA opened at $1.51 on Monday. Processa Pharmaceuticals has a 12 month low of $1.30 and a 12 month high of $18.00. The stock has a fifty day moving average price of $1.76 and a 200 day moving average price of $2.00. The company has a market cap of $4.32 million, a P/E ratio of -0.31 and a beta of 0.60.

Institutional Trading of Processa Pharmaceuticals

An institutional investor recently bought a new position in Processa Pharmaceuticals stock. Spinnaker Trust purchased a new stake in Processa Pharmaceuticals, Inc. (NASDAQ:PCSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 76,865 shares of the company’s stock, valued at approximately $26,000. Spinnaker Trust owned 6.25% of Processa Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 91.93% of the company’s stock.

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.