Cellectar Biosciences (CLRB) Receives a Buy from H.C. Wainwright

By Ryan Adsit

H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Cellectar Biosciences (CLRBResearch Report) today and set a price target of $3.00. The company’s shares closed last Monday at $1.93.

According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -5.0% and a 34.3% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Zomedica Pharmaceuticals, ThermoGenesis Holdings, and IntelGenx Technologies.

Cellectar Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $7.00.

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The company has a one-year high of $3.75 and a one-year low of $1.04. Currently, Cellectar Biosciences has an average volume of 129.2K.

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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.