Equities research analysts at LADENBURG THALM/SH SH assumed coverage on shares of Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) in a research note issued to investors on Friday. The brokerage set a “buy” rating and a $10.00 price target on the biopharmaceutical company’s stock. LADENBURG THALM/SH SH’s target price points to a potential upside of 212.50% from the company’s current price.
Several other equities analysts have also recently weighed in on CLRB. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cellectar Biosciences in a research report on Monday, April 20th. Roth Mkm reiterated a “buy” rating and set a $11.00 price target on shares of Cellectar Biosciences in a research report on Tuesday, May 5th. Finally, Maxim Group raised shares of Cellectar Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.50.
Get Our Latest Stock Report on CLRB
Cellectar Biosciences Trading Up 8.8%
Cellectar Biosciences (NASDAQ:CLRB – Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.88) by $0.55. On average, equities analysts predict that Cellectar Biosciences will post -1.84 EPS for the current year.
Hedge Funds Weigh In On Cellectar Biosciences
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in shares of Cellectar Biosciences in the 4th quarter valued at about $36,000. Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences during the third quarter valued at approximately $60,000. Bank of America Corp DE grew its stake in 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 worth $62,000 after buying an additional 41,704 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Cellectar Biosciences in the 3rd quarter worth approximately $73,000. Finally, Geode Capital Management LLC increased its holdings in shares of Cellectar Biosciences by 15.0% in the 4th quarter. Geode Capital Management LLC now owns 28,636 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 3,744 shares during the last quarter. 16.41% of the stock is currently owned by hedge funds and other institutional investors.
About Cellectar Biosciences
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.
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