Cellectar Biosciences, Inc. (NASDAQ:CLRB) Receives $375.00 Consensus PT from Analysts

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) have received a consensus recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $375.00.

CLRB has been the topic of several analyst reports. Roth Capital restated a “buy” rating on shares of Cellectar Biosciences in a research note on Thursday, August 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Wednesday, October 8th.

Cellectar Biosciences Price Performance

Shares of CLRB opened at $3.26 on Tuesday. Cellectar Biosciences has a 12 month low of $3.25 and a 12 month high of $66.00. The stock’s 50-day moving average is $4.89 and its two-hundred day moving average is $6.42. The stock has a market cap of $10.41 million, a PE ratio of -0.16 and a beta of 0.59.

Cellectar Biosciences (NASDAQ:CLRB) last released its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($3.39) EPS for the quarter, topping the consensus estimate of ($3.60) by $0.21. On average, research analysts anticipate that Cellectar Biosciences will post -1.59 earnings per share for the current year.

Institutional Investors Weigh In On Cellectar Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of CLRB. Sequoia Financial Advisors LLC lifted its position in shares of Cellectar Biosciences by 1,301.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 203,260 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 188,760 shares during the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Cellectar Biosciences in the first quarter valued at $55,000. Simplex Trading LLC lifted its holdings in shares of Cellectar Biosciences by 331.3% in the first quarter. Simplex Trading LLC now owns 173,129 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 132,986 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Cellectar Biosciences by 122.6% in the first quarter. XTX Topco Ltd now owns 104,323 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 57,447 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Cellectar Biosciences by 25.3% in the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock valued at $62,000 after purchasing an additional 41,704 shares in the last quarter. Institutional investors and hedge funds own 16.41% of the company’s stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical 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 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.