Top News

Cancer Co.’s Price Target Adjusted After Reverse Stock Split

July 26, 2022 ( Newswire) Late clinical-stage biopharmaceutical company Cellectar Biosciences Inc. very recently underwent a one for 10 reverse stock split. ROTH Capital Partners LLC advised that it has adjusted its forward projections for the firm and adjusted its 12-month price target to $40/share.

Healthcare and Biotechnology Analyst Jonathan Aschoff, Ph.D. of ROTH Capital Partners LLC commented in a July 22 research note that the firm is adjusting its valuation for Cellectar BioSciences Inc. (CLRB:NASDAQ; CLRB:OTCBB). Cellectar Biosciences is a late-stage clinical biopharmaceutical company focused on the discovery, development and commercialization of drugs for the treatment of cancer.

The research firm previously assigned a Buy rating for the company with a 12-month price target of $10.00/share.

At the close of trading on Thursday, July 21, 2022, the company announced a 1:10 reverse stock split which reduced the total number of common shares outstanding in the company to approximately 6.1 million (6,110,125). Therefore, ROTH noted it had updated its long-term financial model and modified the 12-month price target.

The analyst stated that results from the company’s pivotal Iopofosine I 131 (CLR 131) trial in lymphoplasmacytic lymphoma/ Waldenstrom macroglobulinemia (LPP/WM), a type of non-Hodgkin’s lymphoma, are expected to be forthcoming at YE/22. ROTH believes that the trial will be successful which would serve to substantially increase Cellectar’s market cap above its present near-cash valuation.

ROTH emphasized that its valuation for Cellectar is based solely upon the potential applications for iopofosine in treating multiple myeloma (MM) and LPL/WM within the U.S. market.

Cellectar Biosciences is a late-stage clinical biopharmaceutical firm based in Florham Park, N.J. The firm uses its proprietary platform to develop next-generation Phospholipid Drug Conjugates (PDCs) that are designed specifically to target cancer cells. These PDCs, which the company plans to develop both independently and collaboratively, are believed to offer safer and improved efficacy with fewer off-target effects.

The analyst listed that “iopofosine is a small-molecule PDC designed to provide targeted delivery of iodine-131 (radioisotope).” The company is presently conducting a global pivotal expansion study of up to fifty patients to evaluate the effectiveness of iopofosine in treating relapsed or refractory WM patients who have received at least two prior lines of therapy. In addition, the firm is investigating iopofosine in treating highly refractory MM and relapsed/refractory cancer in pediatric patients with sarcomas or brain tumors.

ROTH Capital Partners LLC indicated that is maintaining its Buy rating on Cellectar Biosciences Inc. but is now adjusting both its estimates for the company and its 12-month post reverse stock-split price target for Cellectar’s shares to $40, up from the pre-split target of $10.

ROTH Capital advised that it arrived at its adjusted 12-month price target using discounted cash flow (DCF) methodology. The DCF calculations were made utilizing a 30% discount rate for all future cash flows generated and a terminal value of 4x projected 2030 operating income of $245 million.

Cellectar Biosciences Inc. shares trade on the Nasdaq market under the symbol “CLRB” and last closed for trading at $4.95 on Friday, July 22, 2022.


1) Steve Hytha wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. They or members of their household own securities of the following companies mentioned in the article: none. They or members of their household are paid by the following companies mentioned in this article: none.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Algernon Pharmaceuticals Inc. Please click here for more information.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

6) This article does not constitute medical advice. Officers, employees, and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Disclosures for Roth Capital Partners, Cellectar Biosciences Inc., July 22, 2022

ROTH makes a market in shares of Cellectar Biosciences, Inc. and as such, buys and sells from customers on a principal basis. Shares of Cellectar Biosciences, Inc. may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2022. Member: FINRA/SIPC.

More Info:

This news is published on the Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy: – investing ideas in biotechnology stocks, medical technology and life sciences

Like Biotech Stocks? View our Biotech Stocks Directory

Buy a biotech guest post on

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in Top News