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Why Cellectar Biosciences Stock Is Trading Higher Today

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Cellectar Biosciences (NASDAQ: CLRB) shares are trading higher on Wednesday after Oppenheimer initiated coverage on the stock with an Outperform rating and $5 price target. 

Cellectar Biosciences is a clinical stage biopharmaceutical company. It focuses on development of targeted phospholipid drug conjugates for the treatment and imaging of cancer.

The company's pipeline consists of pre-clinical and clinical product candidates including radiotherapeutic and chemotherapeutic phospholipid drug conjugates. Its portfolio of products in development includes CLR 131, CTX Product Portfolio consisting of CTX CLR 1800-P, CTX CLR 1602-PTX and CTX CLR 1700, CLR 125, CLR 124 and CLR 1502.

Cellectar Biosciences shares were trading up 9.44% at $1.40 at the time of publication on Wednesday. The stock has a 52-week high of $3.33 and a 52-week low of $1.01.

 

 

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