Brookline Capital Markets Upgrades Cellectar Biosciences (NASDAQ:CLRB) to Strong-Buy

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by analysts at Brookline Capital Markets to a “strong-buy” rating in a research note issued on Sunday,Zacks.com reports. Brookline Capital Markets also issued estimates for Cellectar Biosciences’ Q1 2027 earnings at ($0.50) EPS, Q2 2027 earnings at ($0.68) EPS, Q3 2027 earnings at ($0.66) EPS, Q4 2027 earnings at ($0.50) EPS and FY2027 earnings at ($2.34) EPS.

CLRB has been the subject of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Cellectar Biosciences to a “hold” rating in a research report on Saturday, June 20th. LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences in a research note on Friday, May 15th. They issued a “buy” rating on the stock. Finally, Roth Capital restated a “buy” rating and set a $11.00 target price on shares of Cellectar Biosciences in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Cellectar Biosciences Price Performance

NASDAQ CLRB opened at $2.63 on Friday. Cellectar Biosciences has a 1-year low of $2.20 and a 1-year high of $6.52. The company has a market capitalization of $21.01 million, a P/E ratio of -0.39 and a beta of 0.55. The business has a 50 day moving average price of $2.81 and a 200 day moving average price of $2.99.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.88) by $0.55. On average, research analysts expect that Cellectar Biosciences will post -2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cellectar Biosciences

Several institutional investors and hedge funds have recently modified their holdings of CLRB. Dimensional Fund Advisors LP acquired a new stake in Cellectar Biosciences during the third quarter worth approximately $73,000. DRW Securities LLC raised its holdings in Cellectar Biosciences by 114.2% in the 4th quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 24,089 shares during the last quarter. Citadel Advisors LLC acquired a new position in Cellectar Biosciences in the 3rd quarter valued at $104,000. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 3,744 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Cellectar Biosciences by 25.3% during the 4th quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 41,704 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

About Cellectar Biosciences

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.