Cellectar Biosciences (NASDAQ:CLRB) Upgraded by Brookline Capital Markets to Strong-Buy Rating

Cellectar Biosciences (NASDAQ:CLRB) was upgraded by research analysts at Brookline Capital Markets to a “strong-buy” rating in a research note issued to investors 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 several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Monday, April 20th. Roth Capital restated a “buy” rating and issued a $11.00 price objective on shares of Cellectar Biosciences in a report on Tuesday, May 5th. LADENBURG THALM/SH SH initiated coverage on Cellectar Biosciences in a report on Friday, May 15th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of Cellectar Biosciences to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cellectar Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Cellectar Biosciences Trading Down 6.7%

CLRB stock opened at $2.63 on Friday. Cellectar Biosciences has a 12-month low of $2.20 and a 12-month high of $6.52. The business’s 50-day moving average is $2.81 and its 200 day moving average is $2.99. The stock has a market cap of $21.01 million, a price-to-earnings ratio of -0.39 and a beta of 0.55.

Cellectar Biosciences (NASDAQ:CLRB) last announced its earnings results on Thursday, May 14th. The biopharmaceutical company reported ($1.33) EPS for the quarter, beating analysts’ consensus estimates of ($1.88) by $0.55. As a group, equities analysts forecast that Cellectar Biosciences will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cellectar Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in shares of Cellectar Biosciences in the 4th quarter valued at $36,000. Bank of America Corp DE increased its position 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 last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Cellectar Biosciences during the 3rd quarter worth about $73,000. Sequoia Financial Advisors LLC raised its holdings in 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, Geode Capital Management LLC raised its holdings in 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 buying an additional 3,744 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.