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

BTIG Research restated their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

Other research analysts also recently issued reports about the company. Guggenheim initiated coverage on Opus Genetics in a report on Thursday, June 4th. They set a “buy” rating and a $16.00 price objective for the company. TD Cowen began coverage on Opus Genetics in a research note on Wednesday, July 29th. They issued a “buy” rating on the stock. Leerink Partners began coverage on Opus Genetics in a research report on Thursday, May 21st. They set an “outperform” rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research note on Friday, July 17th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $11.00 price target on shares of Opus Genetics in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.92.

Opus Genetics Trading Down 0.5%

IRD stock opened at $6.04 on Wednesday. The stock has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $4.34. The stock has a market cap of $499.21 million, a PE ratio of -4.47 and a beta of 0.58. Opus Genetics has a 1 year low of $1.35 and a 1 year high of $7.07.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.76 million for the quarter, compared to the consensus estimate of $2.63 million. Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 1,091.82%. On average, analysts forecast that Opus Genetics will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at Opus Genetics

In related news, CFO Robert Gagnon sold 28,000 shares of Opus Genetics stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the transaction, the chief financial officer owned 556,375 shares in the company, valued at approximately $2,525,942.50. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO George Magrath sold 9,475 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total value of $27,951.25. Following the transaction, the chief executive officer directly owned 1,731,869 shares in the company, valued at approximately $5,109,013.55. This trade represents a 0.54% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 57,331 shares of company stock valued at $213,749 in the last quarter. 11.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP bought a new stake in Opus Genetics in the 4th quarter valued at $25,000. Comerica Bank acquired a new stake in Opus Genetics during the 1st quarter valued at $29,000. Virtu Financial LLC acquired a new stake in Opus Genetics during the 4th quarter valued at $34,000. Raymond James Financial Inc. boosted its position in 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 purchasing an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new position in Opus Genetics during the fourth quarter worth $40,000. 14.97% of the stock is owned by institutional investors and hedge funds.

Key Opus Genetics News

Here are the key news stories impacting Opus Genetics this week:

• Positive Sentiment: Oppenheimer said Opus Genetics’ stock price is expected to rise, adding another favorable analyst view. Oppenheimer Analyst Says Opus Genetics Stock Price Expected to Rise
• Positive Sentiment: HC Wainwright assigned Opus Genetics a “buy” rating, reinforcing the positive outlook from Wall Street analysts. Opus Genetics Earns Buy Rating from HC Wainwright
• Positive Sentiment: BTIG Research also initiated or reiterated a “buy” rating, potentially improving sentiment toward the biotechnology company. Opus Genetics Earns Buy Rating from BTIG Research
• Positive Sentiment: Unusually heavy options activity included substantial call-option purchases. This can signal bullish positioning, although options flows are speculative and may increase volatility. Traders Purchase High Volume of Call Options on Opus Genetics
• Neutral Sentiment: Reports described analyst opinions as mixed, indicating that bullish price targets are not necessarily shared across the entire analyst community. Analysts’ Opinions Are Mixed on Opus Genetics
• Neutral Sentiment: The reported September short-interest data showed zero shares short, but the figures appear inconsistent and provide little actionable information about investor positioning.

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.