Equities Analysts Set Expectations for CLRB FY2024 Earnings

Cellectar Biosciences, Inc. (NASDAQ:CLRB) – Stock analysts at Roth Capital dropped their FY2024 earnings per share estimates for shares of Cellectar Biosciences in a research report issued to clients and investors on Monday, November 18th. Roth Capital analyst J. Aschoff now forecasts that the biopharmaceutical company will post earnings per share of ($1.53) for the year, down from their previous estimate 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.

Other equities research analysts have also issued research reports about the company. Oppenheimer cut 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. StockNews.com upgraded shares of Cellectar Biosciences to a “sell” rating in a research report on Thursday, September 26th.

Cellectar Biosciences Stock Performance

Cellectar Biosciences stock opened at $1.56 on Thursday. The stock’s fifty day moving average is $2.06 and its two-hundred day moving average is $2.41. Cellectar Biosciences has a 1-year low of $1.55 and a 1-year high of $4.45.

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

Hedge Funds Weigh In On Cellectar Biosciences

A number of hedge funds have recently modified their holdings of CLRB. Vanguard Group Inc. raised its position in Cellectar Biosciences by 146.7% in the 1st 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 last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Cellectar Biosciences in the third quarter valued at about $51,000. Rosalind Advisors Inc. boosted its stake in shares of Cellectar Biosciences by 35.7% during the third quarter. Rosalind Advisors Inc. now owns 3,671,550 shares of the biopharmaceutical company’s stock worth $7,857,000 after buying an additional 965,934 shares during the period. XTX Topco Ltd increased its position in Cellectar Biosciences by 432.4% in the 2nd quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 51,413 shares during the period. Finally, AIGH Capital Management LLC lifted its position in Cellectar Biosciences by 8.2% during the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock worth $7,590,000 after acquiring an additional 231,270 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.