Opus Genetics’ (IRD) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $7.00 price target on the stock.

Several other analysts also recently commented on the stock. Wedbush assumed coverage on shares of Opus Genetics in a research report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 price target for the company. Chardan Capital restated a “buy” rating and issued a $9.00 price objective on shares of Opus Genetics in a research note on Thursday, November 13th. Piper Sandler began coverage on shares of Opus Genetics in a research note on Tuesday, November 25th. They set an “overweight” rating and a $7.00 target price for the company. Wall Street Zen raised Opus Genetics from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Opus Genetics currently has an average rating of “Moderate Buy” and an average price target of $7.75.

Opus Genetics Stock Performance

Shares of IRD stock opened at $2.31 on Wednesday. The firm has a 50 day moving average of $2.18 and a two-hundred day moving average of $1.77. The stock has a market capitalization of $159.30 million, a PE ratio of -1.23 and a beta of 0.41. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $3.05.

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

Insider Buying and Selling at Opus Genetics

In related news, Director Cam Gallagher acquired 83,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $1.97 per share, with a total value of $163,510.00. Following the completion of the purchase, the director directly owned 83,000 shares in the company, valued at approximately $163,510. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the sale, the director owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Opus Genetics

A number of institutional investors have recently added to or reduced their stakes in the business. Comerica Bank acquired a new position in shares of Opus Genetics in the first quarter worth about $29,000. Raymond James Financial Inc. grew its position in shares of Opus Genetics by 95.6% during the third 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 in the last quarter. Two Sigma Investments LP increased its stake in shares of Opus Genetics by 169.6% in the third quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock worth $179,000 after buying an additional 68,148 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Opus Genetics by 496.9% in the third quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock worth $187,000 after buying an additional 94,416 shares during the last quarter. Finally, Creative Planning acquired a new stake in Opus Genetics in the third quarter valued at $212,000. 14.97% of the stock is owned by hedge funds and other institutional investors.

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.