Shares of Cellectar Biosciences Inc (NASDAQ:CLRB) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus price objective of $3.10 for the company, according to Zacks. Zacks has also assigned Cellectar Biosciences an industry rank of 161 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Cellectar Biosciences from a “sell” rating to a “hold” rating in a research note on Monday, September 25th.

Shares of Cellectar Biosciences (CLRB) traded down $0.05 during trading hours on Friday, reaching $1.31. 203,100 shares of the company were exchanged, compared to its average volume of 157,033. The firm has a market cap of $21.57, a PE ratio of -1.22 and a beta of 0.97. Cellectar Biosciences has a 12-month low of $1.08 and a 12-month high of $3.07.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.01). sell-side analysts predict that Cellectar Biosciences will post -0.96 EPS for the current year.

A hedge fund recently raised its stake in Cellectar Biosciences stock. Virtu KCG Holdings LLC grew its position in shares of Cellectar Biosciences Inc (NASDAQ:CLRB) by 90.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,864 shares of the biopharmaceutical company’s stock after buying an additional 30,808 shares during the quarter. Virtu KCG Holdings LLC owned 0.48% of Cellectar Biosciences worth $106,000 as of its most recent filing with the SEC. 1.71% of the stock is currently owned by institutional investors and hedge funds.

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About Cellectar Biosciences

Cellectar Biosciences, Inc, formerly Novelos Therapeutics, Inc, is a clinical stage biopharmaceutical company. The Company is engaged in developing phospholipid ether-drug conjugates (PDCs) for the treatment and diagnostic imaging of cancer. Its research and development program is based on its PDC cancer targeting delivery platform.

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