Brokerages Set Cellectar Biosciences, Inc. (NASDAQ:CLRB) PT at $11.00

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.00.

CLRB has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. Brookline Capital Markets raised shares of Cellectar Biosciences to a “strong-buy” rating in a research note on Sunday, July 12th. LADENBURG THALM/SH SH started coverage on shares of Cellectar Biosciences in a research note on Friday, May 15th. They set a “buy” rating for the company. Roth Capital reiterated a “buy” rating and set a $11.00 price target on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of Cellectar Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday.

Institutional Trading of Cellectar Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in 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 purchasing an additional 41,704 shares in the last quarter. DRW Securities LLC grew its stake in shares of Cellectar Biosciences by 114.2% in the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 24,089 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Cellectar Biosciences in the third quarter valued at $104,000. 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 buying an additional 14,567 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Cellectar Biosciences in the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Stock Up 4.8%

CLRB stock opened at $2.60 on Friday. The business has a fifty day moving average of $2.56 and a two-hundred day moving average of $2.86. The stock has a market cap of $20.77 million, a price-to-earnings ratio of -0.68 and a beta of 0.55. Cellectar Biosciences has a 52-week low of $2.20 and a 52-week high of $6.52.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). As a group, sell-side analysts anticipate that Cellectar Biosciences will post -2.34 EPS for the current 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.