Cellectar Biosciences, Inc. (NASDAQ:CLRB) Given Average Rating of “Moderate Buy” by Brokerages

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of analysts recently issued reports on the company. Wall Street Zen cut Cellectar Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. Roth Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Cellectar Biosciences in a report on Tuesday, May 5th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Cellectar Biosciences in a research report on Friday, May 15th. They issued a “buy” rating for the company.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 41,704 shares during the period. Dimensional Fund Advisors LP acquired a new position in Cellectar Biosciences in the 3rd quarter valued at about $73,000. Citadel Advisors LLC purchased a new stake in Cellectar Biosciences during the 3rd quarter valued at approximately $104,000. Sequoia Financial Advisors LLC raised its stake in Cellectar Biosciences by 135.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 14,567 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Cellectar Biosciences by 15.0% during the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 3,744 shares during the period. 16.41% of the stock is owned by hedge funds and other institutional investors.

Cellectar Biosciences Price Performance

Shares of CLRB opened at $2.46 on Wednesday. Cellectar Biosciences has a 1-year low of $2.20 and a 1-year high of $6.52. The stock has a market cap of $23.25 million, a PE ratio of -0.64 and a beta of 0.55. The firm has a fifty day moving average price of $2.59 and a 200 day moving average price of $2.80.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.05). As a group, equities analysts expect that Cellectar Biosciences will post -2.39 EPS for the current fiscal year.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc is a clinical‐stage biopharmaceutical company focused on the development of targeted cancer therapies and imaging agents. The company’s proprietary phospholipid drug conjugate (PDC) technology platform is designed to selectively deliver therapeutic and diagnostic payloads to malignant cells while sparing healthy tissue. Through its PDC approach, Cellectar aims to improve the efficacy and safety profile of traditional treatments like chemotherapy and radiotherapy.

Its lead therapeutic candidate, CLR 131, is a radioisotope‐labeled PDC being evaluated in Phase II clinical trials for relapsed or refractory B‐cell malignancies, including multiple myeloma and non‐Hodgkin lymphoma.