Cellectar Biosciences, Inc. (NASDAQ:CLRB) Receives $11.00 Consensus Target Price from Analysts

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.00.

CLRB has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a report on Friday, May 15th. They issued a “buy” rating for the company. Wall Street Zen lowered shares of Cellectar Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Brookline Capital Markets upgraded Cellectar Biosciences to a “strong-buy” rating in a research report on Sunday, July 12th.

Cellectar Biosciences Stock Up 1.7%

Shares of CLRB stock opened at $2.41 on Wednesday. The firm has a market cap of $22.77 million, a P/E ratio of -0.63 and a beta of 0.56. The company has a 50 day moving average of $2.57 and a 200-day moving average of $2.77. Cellectar Biosciences has a 12-month low of $2.20 and a 12-month high of $6.52.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($0.57) 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 year.

Hedge Funds Weigh In On Cellectar Biosciences

A number of large investors have recently modified their holdings of CLRB. XTX Topco Ltd bought a new stake in Cellectar Biosciences during the 4th quarter worth approximately $36,000. DRW Securities LLC increased its stake in Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 24,089 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 3,744 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Cellectar Biosciences by 135.1% in 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 in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Cellectar Biosciences during the 3rd quarter valued at about $104,000. 16.41% of the stock is currently owned by institutional investors.

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.