Cellectar Biosciences (NASDAQ:CLRB) Research Coverage Started at Roth Capital

Roth Capital initiated coverage on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report published on Tuesday, The Fly reports. The brokerage issued a buy rating and a $11.00 price target on the biopharmaceutical company’s stock.

CLRB has been the subject of a number of other reports. HC Wainwright set a $3.00 price target on shares of Cellectar Biosciences and gave the company a buy rating in a report on Friday, August 16th. Brookline Capital Management assumed coverage on shares of Cellectar Biosciences in a report on Monday, July 29th. They issued a buy rating and a $6.00 price target for the company. Zacks Investment Research downgraded shares of Cellectar Biosciences from a buy rating to a hold rating in a report on Tuesday, August 20th. Finally, ValuEngine raised shares of Cellectar Biosciences from a hold rating to a buy rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cellectar Biosciences has a consensus rating of Buy and an average price target of $5.56.

NASDAQ CLRB traded down $0.06 on Tuesday, reaching $1.82. The company’s stock had a trading volume of 60,387 shares, compared to its average volume of 248,313. Cellectar Biosciences has a twelve month low of $1.22 and a twelve month high of $3.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market cap of $17.10 million, a PE ratio of -0.39 and a beta of 1.31. The firm’s 50 day moving average is $2.18 and its two-hundred day moving average is $2.22.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.24. Equities research analysts anticipate that Cellectar Biosciences will post -1.81 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of CLRB. Boxer Capital LLC purchased a new stake in Cellectar Biosciences during the second quarter valued at about $2,006,000. Tang Capital Management LLC purchased a new stake in Cellectar Biosciences during the second quarter valued at about $1,482,000. Finally, CVI Holdings LLC purchased a new stake in Cellectar Biosciences during the second quarter valued at about $231,000. 21.30% of the stock is owned by institutional investors.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical stage 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, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM.

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