Opus Genetics, Inc. (NASDAQ:IRD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Opus Genetics, Inc. (NASDAQ:IRD) has received an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $10.6923.

Several equities analysts recently weighed in on the company. Guggenheim assumed coverage on Opus Genetics in a research note on Thursday, June 4th. They issued a “buy” rating and a $16.00 price objective for the company. BTIG Research reissued a “buy” rating and issued a $12.00 target price on shares of Opus Genetics in a report on Monday, July 6th. Wall Street Zen raised Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Citizens Jmp restated a “market outperform” rating and issued a $11.00 price target on shares of Opus Genetics in a research report on Monday, June 15th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $13.00 price target on shares of Opus Genetics in a research note on Monday, July 6th.

Opus Genetics Trading Up 1.5%

IRD stock opened at $4.67 on Friday. The company has a market cap of $385.98 million, a P/E ratio of -3.46 and a beta of 0.58. Opus Genetics has a 52 week low of $1.24 and a 52 week high of $5.81. The company’s 50-day moving average price is $3.77 and its 200 day moving average price is $4.28.

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

Insider Buying and Selling

In other Opus Genetics news, CEO George Magrath sold 9,475 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total transaction of $27,951.25. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 29,331 shares of company stock valued at $86,629. 11.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Opus Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. Occudo Quantitative Strategies LP acquired a new position in shares of Opus Genetics during the 4th quarter worth approximately $25,000. Comerica Bank purchased a new position in Opus Genetics during the first quarter worth $29,000. Virtu Financial LLC acquired a new position in shares of Opus Genetics in the fourth quarter worth $34,000. Raymond James Financial Inc. raised its holdings in shares of Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Opus Genetics in the fourth quarter valued at $40,000. Hedge funds and other 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.