Cellectar Biosciences, Inc. (NASDAQ:CLRB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.00.

Several research analysts recently weighed in on the stock. Brookline Capital Markets upgraded shares of Cellectar Biosciences to a “strong-buy” rating in a research report on Sunday, July 12th. Wall Street Zen cut Cellectar Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research note on Friday, July 17th.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock opened at $1.78 on Friday. The company’s fifty day moving average price is $2.39 and its 200 day moving average price is $2.65. Cellectar Biosciences has a 1 year low of $1.78 and a 1 year high of $6.52. The stock has a market capitalization of $16.82 million, a P/E ratio of -0.46 and a beta of 0.58.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.05). Sell-side analysts predict that Cellectar Biosciences will post -2.39 EPS for the current year.

Cellectar Biosciences Company Profile

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.