Cellectar Biosciences, Inc. (NASDAQ:CLRB) Given Consensus Rating of “Moderate Buy” by Brokerages

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

CLRB has been the topic of a number of research reports. LADENBURG THALM/SH SH began coverage on Cellectar Biosciences in a research note on Friday, May 15th. They set a “buy” rating on the stock. Brookline Capital Markets raised Cellectar Biosciences to a “strong-buy” rating in a research note on Sunday, July 12th. Wall Street Zen upgraded Cellectar Biosciences to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Friday, July 17th. Finally, Roth Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Cellectar Biosciences in a report on Tuesday, May 5th.

Cellectar Biosciences Trading Up 2.0%

CLRB opened at $2.57 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 cap of $20.53 million, a P/E ratio of -0.39 and a beta of 0.55. The company has a fifty day moving average price of $2.58 and a two-hundred day moving average price of $2.90.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. DRW Securities LLC increased its position in shares of Cellectar Biosciences by 114.2% during the fourth quarter. DRW Securities LLC now owns 45,190 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 24,089 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 3,744 shares during the last quarter. Citadel Advisors LLC bought a new position in Cellectar Biosciences in the 3rd quarter valued at about $104,000. Dimensional Fund Advisors LP bought a new position in Cellectar Biosciences in the 3rd quarter valued at about $73,000. Finally, Bank of America Corp DE boosted its stake in 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 valued at $62,000 after purchasing an additional 41,704 shares during the last quarter. 16.41% of the stock is owned by institutional investors.

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.