Opus Genetics (NASDAQ:IRD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Opus Genetics (NASDAQ:IRD) from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other equities analysts have also recently commented on the company. Piper Sandler initiated coverage on Opus Genetics in a report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 price target for the company. Wedbush initiated coverage on Opus Genetics in a research report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 target price on the stock. B. Riley started coverage on Opus Genetics in a research note on Wednesday, December 10th. They set a “buy” rating and a $9.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Wednesday, October 8th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $9.00 price target on shares of Opus Genetics in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.86.

Opus Genetics Stock Performance

Shares of Opus Genetics stock opened at $2.13 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The company has a market cap of $146.88 million, a PE ratio of -1.13 and a beta of 0.42. The company has a 50 day moving average of $2.04 and a 200-day moving average of $1.50. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $2.59.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. Opus Genetics had a negative net margin of 466.09% and a negative return on equity of 697.94%. The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, equities research analysts forecast that Opus Genetics will post -1.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Opus Genetics news, Director Fighting Blindness Foundation sold 4,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the sale, the director directly owned 5,492,171 shares of the company’s stock, valued at $11,808,167.65. The trade was a 42.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Opus Genetics

Several large investors have recently modified their holdings of IRD. Virtu Financial LLC acquired a new position in shares of Opus Genetics during the first quarter worth $26,000. Comerica Bank acquired a new position in Opus Genetics during the 1st quarter worth about $29,000. Raymond James Financial Inc. lifted its holdings in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after buying an additional 11,000 shares during the period. Voss Capital LP acquired a new position in Opus Genetics during the 1st quarter worth about $147,000. Finally, Two Sigma Investments LP grew its position in shares of Opus Genetics by 169.6% in the 3rd quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock valued at $179,000 after buying an additional 68,148 shares during the last quarter. Institutional investors own 14.97% of the company’s stock.

Opus Genetics Company Profile

Opus Genetics Inc is a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. Opus Genetics Inc, formerly known as Ocuphire Pharma Inc, is based in Farmington Hills, Michigan.