Cellectar Biosciences, Inc. (NASDAQ:CLRB) Receives $390.00 Consensus Target Price from Analysts

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has earned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat 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 12-month target price among brokerages that have issued ratings on the stock in the last year is $390.00.

Several equities analysts have weighed in on the company. Roth Capital reaffirmed a “buy” rating on shares of Cellectar Biosciences in a research report on Thursday, August 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Wednesday, October 8th.

Institutional Trading of Cellectar Biosciences

Large investors have recently modified their holdings of the stock. XTX Topco Ltd boosted its holdings in 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 during the period. Simplex Trading LLC raised its position in Cellectar Biosciences by 331.3% in the 1st 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. Baader Bank Aktiengesellschaft purchased a new position in shares of Cellectar Biosciences in the 1st quarter valued at about $55,000. Sequoia Financial Advisors LLC acquired a new position in shares of Cellectar Biosciences during the third quarter worth about $60,000. Finally, Bank of America Corp DE increased its stake in shares of Cellectar Biosciences by 25.3% during the fourth quarter. Bank of America Corp DE now owns 206,783 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 41,704 shares during the period. Hedge funds and other institutional investors own 16.41% of the company’s stock.

Cellectar Biosciences Stock Up 1.4%

Shares of NASDAQ CLRB opened at $2.90 on Friday. The business’s 50 day moving average is $4.28 and its two-hundred day moving average is $5.75. Cellectar Biosciences has a 52-week low of $2.71 and a 52-week high of $48.90. The firm has a market cap of $12.30 million, a price-to-earnings ratio of -0.15 and a beta of 0.56.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings data on Thursday, November 13th. The biopharmaceutical company reported ($1.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.50. Analysts anticipate that Cellectar Biosciences will post -1.59 EPS for the current fiscal year.

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.