Opus Genetics, Inc. (NASDAQ:IRD) Given Average Rating of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Opus Genetics, Inc. (NASDAQ:IRD – Get Free Report) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued 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 a report on the stock in the last year is $7.8571.

IRD has been the topic of a number of analyst reports. Brookline Capital Management raised shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Wall Street Zen cut shares of Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler initiated coverage on shares of Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Finally, B. Riley initiated coverage on Opus Genetics in a report on Wednesday, December 10th. They set a “buy” rating and a $9.00 price objective for the company.

Get Our Latest Report on Opus Genetics

Opus Genetics Trading Up 5.5%

IRD opened at $2.12 on Tuesday. 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 firm has a market cap of $146.20 million, a price-to-earnings ratio of -1.13 and a beta of 0.41. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $2.59. The stock has a fifty day moving average price of $2.06 and a 200-day moving average price of $1.60.

Opus Genetics (NASDAQ:IRD – Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The company had revenue of $3.08 million for 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%. As a group, equities research analysts anticipate that Opus Genetics will post -1.22 earnings per share for the current fiscal year.

Insider Activity

In other Opus Genetics news, Director Fighting Blindness Foundation sold 4,000,000 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total value of $8,600,000.00. Following the completion of the sale, the director directly owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Cam Gallagher purchased 83,000 shares of the stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $1.97 per share, with a total value of $163,510.00. Following the acquisition, the director owned 83,000 shares of the company’s stock, valued at approximately $163,510. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Comerica Bank purchased a new position in shares of Opus Genetics in the first quarter worth about $29,000. Royal Bank of Canada acquired a new position in Opus Genetics in the 1st quarter worth approximately $299,000. Nantahala Capital Management LLC purchased a new position in Opus Genetics during the 1st quarter worth approximately $3,100,000. AWM Investment Company Inc. acquired a new stake in Opus Genetics during the 1st quarter valued at approximately $515,000. Finally, BIOS Capital Management LP lifted its stake in Opus Genetics by 270.1% during the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after acquiring an additional 2,688,180 shares during the period. 14.97% of the stock is owned by institutional investors and hedge funds.

Opus Genetics Company Profile

(Get Free Report)

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.

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