ValuEngine Upgrades Cellectar Biosciences (NASDAQ:CLRB) to Buy

ValuEngine upgraded shares of Cellectar Biosciences (NASDAQ:CLRB) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.

Several other research firms also recently weighed in on CLRB. Zacks Investment Research downgraded shares of Cellectar Biosciences from a buy rating to a hold rating in a research note on Tuesday, July 2nd. HC Wainwright began coverage on shares of Cellectar Biosciences in a research note on Thursday, May 2nd. They issued a buy rating and a $4.00 price target for the company. Finally, Brookline Capital Management initiated coverage on shares of Cellectar Biosciences in a research note on Monday. They issued a buy rating and a $6.00 price target for the company.

Cellectar Biosciences stock traded down $0.02 during mid-day trading on Thursday, hitting $2.15. The company’s stock had a trading volume of 24,842 shares, compared to its average volume of 293,456. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 0.06. The stock has a market cap of $20.20 million, a PE ratio of -0.46 and a beta of 1.11. The business has a 50 day moving average of $2.16. Cellectar Biosciences has a 12 month low of $1.22 and a 12 month high of $4.28.

Cellectar Biosciences (NASDAQ:CLRB) last posted its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.02). Equities analysts forecast that Cellectar Biosciences will post -2.1 earnings per share for the current year.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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