Cellectar Biosciences, Inc. (NASDAQ:CLRB) Stock Has Consensus Price Target of $11.00

Shares of Cellectar Biosciences, Inc. (NASDAQ:CLRB) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One investment 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 target price among brokerages that have covered the stock in the last year is $11.00.

CLRB has been the topic of a number of research reports. Brookline Capital Markets raised shares of Cellectar Biosciences to a “strong-buy” rating in a research note on Sunday, July 12th. Wall Street Zen lowered Cellectar Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Friday, July 17th.

Cellectar Biosciences Price Performance

Cellectar Biosciences stock opened at $1.82 on Friday. The company has a market cap of $17.20 million, a price-to-earnings ratio of -0.47 and a beta of 0.56. Cellectar Biosciences has a 12 month low of $1.80 and a 12 month high of $6.52. The stock’s 50-day moving average is $2.42 and its 200-day moving average is $2.68.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.05). Research analysts anticipate that Cellectar Biosciences will post -2.39 EPS for the current year.

About Cellectar Biosciences

Cellectar Biosciences, Inc (NASDAQ: CLRB) is a clinical-stage biopharmaceutical company focused on developing targeted radiopharmaceuticals and drug-delivery technologies for the treatment of cancer. The company’s approach is based on phospholipid ether (PLE) compounds, which are designed to selectively accumulate in cancer cells and other tumor-associated tissues.

Cellectar’s lead product candidate is iopofosine I 131, also known as CLR 131, a targeted radiotherapeutic being developed for hematologic malignancies, including certain forms of B-cell lymphoma and multiple myeloma.