Cellectar Biosciences, Inc. (NASDAQ:CLRB) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

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

Several research analysts recently issued reports on CLRB shares. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Thursday, October 15th. Wall Street Zen cut Cellectar Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a research report on Sunday, July 12th.

Cellectar Biosciences Stock Performance

Shares of CLRB stock opened at $1.28 on Thursday. The stock has a fifty day moving average price of $2.07 and a 200 day moving average price of $2.51. The stock has a market cap of $12.10 million, a PE ratio of -0.33 and a beta of 0.58. Cellectar Biosciences has a 1 year low of $1.12 and a 1 year high of $4.70.

Cellectar Biosciences (NASDAQ:CLRB) last released 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 research analysts predict that Cellectar Biosciences will post -2.39 earnings per share for the current year.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc is a clinical-stage biotechnology company focused on developing targeted radiopharmaceuticals for the treatment and diagnosis of cancer. The company’s technology platform is based on phospholipid ether analogs, which are designed to preferentially accumulate in tumor cells and can be linked to radioactive isotopes for targeted imaging or therapy.

Cellectar’s lead product candidate is iopofosine I 131, also known as CLR 131, a targeted radiotherapeutic being developed for cancers including relapsed or refractory multiple myeloma.