Cellectar Biosciences (NASDAQ:CLRB) Given a $3.00 Price Target at HC Wainwright

HC Wainwright set a $3.00 target price on Cellectar Biosciences (NASDAQ:CLRB) in a research note issued to investors on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts also recently issued reports about the company. ValuEngine raised Cellectar Biosciences from a hold rating to a buy rating in a report on Thursday, August 1st. Brookline Capital Management assumed coverage on Cellectar Biosciences in a report on Monday, July 29th. They set a buy rating and a $6.00 price target on the stock. Finally, Zacks Investment Research raised Cellectar Biosciences from a hold rating to a buy rating and set a $2.25 price target on the stock in a report on Friday.

Shares of NASDAQ CLRB traded up $0.01 during trading on Friday, reaching $2.19. The company had a trading volume of 48,234 shares, compared to its average volume of 77,996. Cellectar Biosciences has a 12-month low of $1.22 and a 12-month high of $4.28. The stock has a market cap of $20.12 million, a PE ratio of -0.47 and a beta of 1.17. The business’s 50-day moving average is $2.15 and its 200 day moving average is $2.19. The company has a quick ratio of 5.04, a current ratio of 6.80 and a debt-to-equity ratio of 0.03.

Cellectar Biosciences (NASDAQ:CLRB) last released its earnings results on Monday, August 12th. The biopharmaceutical company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.24. On average, analysts anticipate that Cellectar Biosciences will post -1.95 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. CVI Holdings LLC bought a new position in Cellectar Biosciences in the second quarter valued at about $231,000. Boxer Capital LLC bought a new position in Cellectar Biosciences in the second quarter valued at about $2,006,000. Finally, Tang Capital Management LLC bought a new position in Cellectar Biosciences in the second quarter valued at about $1,482,000. 3.34% of the stock is currently owned by hedge funds and other institutional investors.

About Cellectar Biosciences

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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