Oppenheimer analyst Kevin DeGeeter maintained a Buy rating on Cellectar Biosciences (CLRB) yesterday and set a price target of $5.00. The company’s shares closed last Monday at $1.20, close to its 52-week low of $1.01.
According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 20.4% and a 47.0% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Interpace Diagnostics Group, Rocket Pharmaceuticals, and Ionis Pharmaceuticals.
Cellectar Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $3.67, representing a 216.4% upside. In a report issued on September 9, Maxim Group also reiterated a Buy rating on the stock with a $3.00 price target.
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Based on Cellectar Biosciences’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.61 million. In comparison, last year the company had a GAAP net loss of $3.19 million.
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Cellectar BioSciences, Inc. engages in the development of phospholipid drug conjugates (PDCs) for the treatment and imaging of cancer. Its portfolio includes CLR 131, which seeks to treat relapse or refractory multiple myeloma; CLR 125, which intends to treat micro metastatic disease; CLR 124 which could detects tumors and metastases in a broad range of cancers; and CLR 1502, a cancer-targeting near-infrared-fluorophore optical imaging PDC for intraoperative tumor and tumor margin illumination. The company was founded in June,1996 and is headquartered in Florham Park, NJ.
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