Roth Capital Has Negative Outlook of CLRB FY2024 Earnings

Cellectar Biosciences, Inc. (NASDAQ:CLRB) – Equities research analysts at Roth Capital decreased their FY2024 earnings per share (EPS) estimates for shares of Cellectar Biosciences in a 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 previous 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 announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($0.51) EPS for the quarter.

A number of other equities analysts have also weighed in on the stock. Oppenheimer reduced their target price on shares of Cellectar Biosciences from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday. StockNews.com upgraded Cellectar Biosciences to a “sell” rating in a research note on Thursday, September 26th.

Cellectar Biosciences Stock Performance

Shares of CLRB stock opened at $1.58 on Thursday. Cellectar Biosciences has a 52-week low of $1.39 and a 52-week high of $4.45. The firm’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $2.39. The stock has a market cap of $65.21 million, a PE ratio of -0.92 and a beta of 1.00.

Institutional Trading of Cellectar Biosciences

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new position in Cellectar Biosciences in the third quarter valued at approximately $27,000. Sequoia Financial Advisors LLC bought a new stake in Cellectar Biosciences in the 3rd quarter valued at about $51,000. XTX Topco Ltd increased its stake in shares of Cellectar Biosciences by 432.4% in the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 51,413 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cellectar Biosciences by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 352,452 shares of the biopharmaceutical company’s stock worth $754,000 after buying an additional 11,266 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Cellectar Biosciences by 146.7% in the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after acquiring an additional 708,191 shares during the period. Institutional investors and hedge funds own 16.41% of the company’s stock.

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.