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

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has been given an average recommendation of “Moderate Buy” by the five research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $11.00.

A number of equities analysts have recently issued reports on the stock. Brookline Capital Markets upgraded shares of Cellectar Biosciences to a “strong-buy” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Cellectar Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th.

Cellectar Biosciences Price Performance

Shares of NASDAQ CLRB opened at $1.28 on Thursday. The stock’s 50-day moving average is $2.07 and its two-hundred day moving average is $2.51. Cellectar Biosciences has a 1-year low of $1.12 and a 1-year high of $4.70. The company has a market cap of $12.10 million, a price-to-earnings ratio of -0.33 and a beta of 0.58.

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

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc is a clinical-stage biotechnology company focused on developing targeted radiopharmaceuticals for the treatment and diagnosis of cancer. The company’s technology platform is based on phospholipid ether analogs, which are designed to preferentially accumulate in tumor cells and can be linked to radioactive isotopes for targeted imaging or therapy.

Cellectar’s lead product candidate is iopofosine I 131, also known as CLR 131, a targeted radiotherapeutic being developed for cancers including relapsed or refractory multiple myeloma.