The Cellectar Biosciences Inc. (CLRB) shares are trading at higher $1.43 and the avg recommendation for the stock is Strong Buy.
To add more color to this target, the company’s high over the last year is $3.33 and the low is $1.01. Over the last 52 weeks, CLRB is down -57.06% while the S&P 500 is up 0.57%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, CLRB reported a profit of $1000.0. Cellectar Biosciences Inc. also saw revenues increase to $3.96 million. In addition, CLRB has free cash flow of -$3.52 million as of 03-2020. The company’s EBITDA came in at -$3.92 million which compares well with its peers.
CLRB Return on Equity (ROE) is -152.20%, and its Return on Assets is -103.60%. All told, it is clear that, CLRB needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CLRB has a short ratio of 0.11 and outstanding shares of 9.39M.
CLRB has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.65 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.66. Cellectar Biosciences Inc. CLRB also noted assets of $8.69 million at the end of the last quarter. Investors should also keep an eye on sector updates as CLRB has historically followed its peers on positive news.
All told, Cellectar Biosciences Inc. CLRB has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CLRB represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Cellectar Biosciences Inc. CLRB is now commanding a market cap of 33.85M and a float of 7.88M. CLRB is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CLRB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in CLRB, either long or short, and we have not been compensated for this article.