Zacks: Brokerages Anticipate Cellectar Biosciences Inc (NASDAQ:CLRB) Will Announce Earnings of -$0.60 Per Share

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Wall Street analysts expect Cellectar Biosciences Inc (NASDAQ:CLRB) to report earnings per share of ($0.60) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Cellectar Biosciences’ earnings. Cellectar Biosciences reported earnings per share of ($1.69) in the same quarter last year, which would suggest a positive year over year growth rate of 64.5%. The firm is expected to report its next earnings report on Friday, August 9th.

According to Zacks, analysts expect that Cellectar Biosciences will report full year earnings of ($2.41) per share for the current financial year, with EPS estimates ranging from ($2.45) to ($2.36). For the next financial year, analysts anticipate that the company will report earnings of ($1.27) per share, with EPS estimates ranging from ($1.72) to ($0.81). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Cellectar Biosciences.

Cellectar Biosciences (NASDAQ:CLRB) last issued its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.02).

CLRB has been the subject of a number of research reports. Zacks Investment Research raised Cellectar Biosciences from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a report on Monday, March 4th. ValuEngine downgraded Cellectar Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, HC Wainwright initiated coverage on Cellectar Biosciences in a report on Thursday, May 2nd. They set a “buy” rating and a $4.00 target price for the company.

NASDAQ CLRB traded up $0.02 during trading on Thursday, hitting $2.25. The company’s stock had a trading volume of 21,015 shares, compared to its average volume of 1,218,729. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.04 and a current ratio of 5.04. Cellectar Biosciences has a fifty-two week low of $1.22 and a fifty-two week high of $12.76. The company has a market cap of $21.61 million, a PE ratio of -0.48 and a beta of 1.08.

A hedge fund recently bought a new stake in Cellectar Biosciences stock. Renaissance Technologies LLC bought a new stake in shares of Cellectar Biosciences Inc (NASDAQ:CLRB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,553 shares of the biopharmaceutical company’s stock, valued at approximately $176,000. Renaissance Technologies LLC owned 1.63% of Cellectar Biosciences as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 4.86% of the company’s stock.

About Cellectar Biosciences

Cellectar Biosciences, Inc, a clinical stage 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, which is in Phase II clinical study in patients with relapsed or refractory (R/R) multiple myeloma (MM) and a range of B-cell malignancies, as well as in Phase I clinical study for R/R MM.

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