Cellectar Biosciences (NASDAQ:CLRB) Coverage Initiated by Analysts at Roth Capital
Roth Capital initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Friday, BenzingaRatingsTable reports. The firm issued a buy rating and a $11.00 price target on the biopharmaceutical company’s stock.
A number of other brokerages also recently issued reports on CLRB. HC Wainwright set a $3.00 price target on shares of Cellectar Biosciences and gave the stock a buy rating in a report on Friday, August 16th. ValuEngine upgraded shares of Cellectar Biosciences from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of Cellectar Biosciences from a buy rating to a hold rating in a report on Tuesday, August 20th. Finally, Brookline Capital Management initiated coverage on shares of Cellectar Biosciences in a report on Monday, July 29th. They set a buy rating and a $6.00 price target for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $5.56.
Shares of NASDAQ CLRB opened at $2.45 on Friday. The company has a 50 day simple moving average of $2.18 and a 200-day simple moving average of $2.22. The company has a market capitalization of $21.62 million, a P/E ratio of -0.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.80 and a quick ratio of 6.80. Cellectar Biosciences has a 1 year low of $1.22 and a 1 year high of $4.28.
Several large investors have recently bought and sold shares of CLRB. Boxer Capital LLC purchased a new position in shares of Cellectar Biosciences during the 2nd quarter worth approximately $2,006,000. Tang Capital Management LLC purchased a new position in shares of Cellectar Biosciences during the 2nd quarter worth approximately $1,482,000. Finally, CVI Holdings LLC purchased a new position in shares of Cellectar Biosciences during the 2nd quarter worth approximately $231,000. 21.30% of the stock is owned by hedge funds and other institutional investors.
Cellectar Biosciences Company Profile
Cellectar Biosciences, Inc, a clinical stage biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM.
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