Oppenheimer raised the firm’s price target on Cellectar Biosciences to $12 from $11 and keeps an Outperform rating on the shares. The firm notes that on Wednesday, Cellectar reported year-end results following January’s impressive interim readout for the pivotal iopofosine I-131 study in WM. Management remains confident in its second half of 2024 NDA filing goal, with an approval under fast-track possible mid-year 2025. Updated data anticipated in May, which Oppenheimer expects to validate the positive interim read. The firm’s discussion with management highlighted the opportunity for a broader label, supporting Oppenheimer’s confidence in the market.
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