Opus Genetics (NASDAQ:IRD) Raised to “Hold” at Wall Street Zen

Opus Genetics (NASDAQ:IRD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also commented on IRD. Jones Trading decreased their price target on Opus Genetics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Opus Genetics in a research note on Friday, June 27th. Finally, Craig Hallum assumed coverage on Opus Genetics in a research report on Friday, April 11th. They issued a “buy” rating and a $6.00 price objective for the company.

Opus Genetics Price Performance

Shares of IRD stock opened at $1.13 on Friday. The stock’s fifty day simple moving average is $0.99 and its 200 day simple moving average is $1.02. The firm has a market cap of $67.42 million, a price-to-earnings ratio of -0.54 and a beta of -0.02. Opus Genetics has a one year low of $0.65 and a one year high of $1.75.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. The business had revenue of $4.30 million for the quarter, compared to analyst estimates of $4.00 million. Opus Genetics had a negative return on equity of 283.28% and a negative net margin of 429.42%. On average, research analysts anticipate that Opus Genetics will post -1.22 earnings per share for the current year.

Hedge Funds Weigh In On Opus Genetics

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in Opus Genetics in the 1st quarter valued at $26,000. Apollon Wealth Management LLC bought a new stake in shares of Opus Genetics during the first quarter worth $28,000. Comerica Bank bought a new stake in shares of Opus Genetics during the first quarter worth $29,000. Kestra Private Wealth Services LLC bought a new stake in shares of Opus Genetics during the first quarter worth $47,000. Finally, Voss Capital LP bought a new stake in shares of Opus Genetics during the first quarter worth $147,000. 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.