They have an upside price target of 5.40. There a few resistance points but I will probably set my long term target at the top green marker on the chart. A downfall from time to time is the volume on this stock.
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. The company also develops CLR 1900, a PDC chemotherapeutic program that is targeted to treat solid tumors. It has collaborative PDC programs with Pierre Fabre to develop CLR 1800 Series; Avicenna Oncology GMBH to develop CLR 2000 Series; Onconova Therapeutics, Inc. to develop CLR 2100 and 2200 Series; and Orano Med to develop novel PDCs. The company was formerly known as Novelos Therapeutics, Inc. and changed its name to Cellectar Biosciences, Inc. in February 2014. Cellectar Biosciences, Inc. was founded in 2002 and is headquartered in Florham Park, New Jersey.
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. The company also develops CLR 1900, a PDC chemotherapeutic program that is targeted to treat solid tumors. It has collaborative PDC programs with Pierre Fabre to develop CLR 1800 Series; Avicenna Oncology GMBH to develop CLR 2000 Series; Onconova Therapeutics, Inc. to develop CLR 2100 and 2200 Series; and Orano Med to develop novel PDCs. The company was formerly known as Novelos Therapeutics, Inc. and changed its name to Cellectar Biosciences, Inc. in February 2014. Cellectar Biosciences, Inc. was founded in 2002 and is headquartered in Florham Park, New Jersey.
Trade active:
Upgraded to out perform.
As previously reported, Oppenheimer analyst Kevin DeGeeter initiated coverage of Cellectar Biosciences with an Outperform rating and a $5 price target. The analyst cites potential for CLR-131 to gain regulatory approval by the end of 2022 for lymphoplasmacytic lymphoma, expectations for material off-label use in triple refractory multiple myeloma patients based on differentiated AE profile and competitive ORR, and potential upside to his outlook from development in rare pediatric cancers, including potential for a priority review voucher. DeGeeter views radiopharmaceuticals as an attractive specialty market with limited competition, healthy pricing models, and recent active consolidation. If management succeeds in gaining FDA approval in LPL, Cellectar may be acquired, he contends.
Read more at:
thefly.com/land...ingPageNews.php?id=3119444...
As previously reported, Oppenheimer analyst Kevin DeGeeter initiated coverage of Cellectar Biosciences with an Outperform rating and a $5 price target. The analyst cites potential for CLR-131 to gain regulatory approval by the end of 2022 for lymphoplasmacytic lymphoma, expectations for material off-label use in triple refractory multiple myeloma patients based on differentiated AE profile and competitive ORR, and potential upside to his outlook from development in rare pediatric cancers, including potential for a priority review voucher. DeGeeter views radiopharmaceuticals as an attractive specialty market with limited competition, healthy pricing models, and recent active consolidation. If management succeeds in gaining FDA approval in LPL, Cellectar may be acquired, he contends.
Read more at:
thefly.com/land...ingPageNews.php?id=3119444...