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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has earned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. One research 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 1-year price target among brokerages that have issued a report on the stock in the last year is $11.00.

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

Cellectar Biosciences Trading Up 2.0%

Shares of CLRB opened at $2.57 on Friday. The company has a market capitalization of $20.53 million, a PE ratio of -0.39 and a beta of 0.55. Cellectar Biosciences has a 12 month low of $2.20 and a 12 month high of $6.52. The stock’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $2.90.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Thursday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, beating the consensus estimate of ($1.88) by $0.55. Equities research analysts predict that Cellectar Biosciences will post -2.34 EPS for the current fiscal year.

Institutional Trading of Cellectar Biosciences

A number of large investors have recently bought and sold shares of CLRB. Bank of America Corp DE lifted its stake in shares of Cellectar Biosciences by 25.3% in 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 period. DRW Securities LLC grew its stake in 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 purchasing an additional 24,089 shares during the period. Geode Capital Management LLC grew its stake in Cellectar Biosciences by 15.0% during the fourth quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 3,744 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Cellectar Biosciences by 135.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 25,350 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 14,567 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Cellectar Biosciences during the 3rd quarter worth approximately $104,000. 16.41% of the stock is currently owned by institutional investors and hedge funds.

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.