Roth Capital Analysts Decrease Earnings Estimates for CLRB

Cellectar Biosciences, Inc. (NASDAQ:CLRB) – Research analysts at Roth Capital lowered their FY2024 earnings per share (EPS) estimates for Cellectar Biosciences in a research note issued to investors on Monday, November 18th. Roth Capital analyst J. Aschoff now expects that the biopharmaceutical company will earn ($1.53) per share for the year, down from their prior forecast of ($1.52). The consensus estimate for Cellectar Biosciences’ current full-year earnings is ($1.57) per share. Roth Capital also issued estimates for Cellectar Biosciences’ Q4 2024 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at $0.05 EPS, FY2025 earnings at ($0.65) EPS, FY2026 earnings at $0.50 EPS, FY2027 earnings at $1.10 EPS and FY2028 earnings at $1.71 EPS.

Cellectar Biosciences (NASDAQ:CLRB) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter.

A number of other research firms also recently commented on CLRB. StockNews.com upgraded Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th. Oppenheimer decreased their target price on Cellectar Biosciences from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday.

Cellectar Biosciences Trading Up 1.3 %

NASDAQ:CLRB opened at $1.58 on Thursday. The company has a market capitalization of $65.21 million, a P/E ratio of -0.91 and a beta of 1.00. Cellectar Biosciences has a 12 month low of $1.39 and a 12 month high of $4.45. The business’s 50-day moving average is $2.05 and its 200 day moving average is $2.40.

Institutional Investors Weigh In On Cellectar Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rosalind Advisors Inc. raised its position in Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock valued at $7,857,000 after purchasing an additional 965,934 shares during the period. AIGH Capital Management LLC raised its position in Cellectar Biosciences by 8.2% during the second quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after purchasing an additional 231,270 shares during the period. Vanguard Group Inc. raised its position in Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock valued at $4,741,000 after purchasing an additional 708,191 shares during the period. Geode Capital Management LLC raised its position in Cellectar Biosciences by 3.3% during the third quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 11,266 shares during the period. Finally, XTX Topco Ltd raised its position in Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after purchasing an additional 51,413 shares during the period. 16.41% of the stock is currently owned by hedge funds and other institutional investors.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical 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 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.