Revenue Update on Cellectar Biosciences Inc(NASDAQ:CLRB)

Cellectar Biosciences Inc(NASDAQ:CLRB) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Mar 15, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.34. The reported EPS was below estimates by -47.83%. Analysts had estimated an EPS of $-0.23.

In a different note, Ladenburg Thalmann said it Initiates Coverage On Cellectar Biosciences Inc, according to a research note issued on Dec 21, 2016. In the research note, the firm Announces the price-target to $2.7 per share. The shares have been rated ‘Buy’ by the firm.

Cellectar Biosciences Inc (CLRB) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -1.67% at a volume of 3,86,260. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $2.4396. The peak price level was also seen at $2.4396 while the days lowest was $2.27. Finally the shares closed at $2.35. The 52-week high of the shares is $5.1 while the 52-week low is $1. According to the latest information available, the market cap of the company is $27 M.

Several Insider Transactions has been reported to the SEC. On Nov 30, 2016, John Neis (director) purchased 333,333 shares at $1.49 per share price.Also, On Apr 21, 2016, Paul L Berns (director) purchased 117,371 shares at $2.12 per share price.On Apr 21, 2016, James V Caruso (CEO) purchased 46,948 shares at $2.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Cellectar Biosciences Inc. formerly Novelos Therapeutics Inc. is a biopharmaceutical company. The Company is engaged in developing compounds for the treatment diagnosis and imaging of cancer. Its product candidates include I-124-CLR1404 I-131-CLR1404 and CLR1502. Its product candidates are based on a cancer-targeting delivery platform of optimized phospholipid ether (PLE) analogs that interact with lipid rafts. I-131-CLR1404 is a small-molecule broad-spectrum cancer-targeting molecular radiotherapeutic that is a radiotherapeutic agent to use PLEs to target cancer cells. CLR1502 is a small-molecule broad-spectrum cancer-targeting non-radioactive optical imaging agent for intraoperative tumor margin illumination and non-invasive tumor imaging.

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