Opus Genetics (NASDAQ:IRD) Coverage Initiated at Chardan Capital

Equities research analysts at Chardan Capital started coverage on shares of Opus Genetics (NASDAQ:IRD) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $9.00 price target on the stock. Chardan Capital’s price target would suggest a potential upside of 381.28% from the company’s previous close.

Several other research firms also recently weighed in on IRD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of Opus Genetics in a research note on Friday, June 27th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Opus Genetics currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Opus Genetics Trading Down 7.0%

Shares of IRD stock opened at $1.87 on Thursday. The business’s fifty day moving average price is $1.50 and its 200 day moving average price is $1.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $112.03 million, a PE ratio of -0.97 and a beta of 0.11. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $2.16.

Opus Genetics (NASDAQ:IRD) last posted its earnings results on Friday, May 7th. The company reported ($0.47) EPS for the quarter. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%. As a group, sell-side analysts forecast that Opus Genetics will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Opus Genetics

Large investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Opus Genetics in the first quarter valued at about $26,000. Apollon Wealth Management LLC acquired a new stake in shares of Opus Genetics in the first quarter valued at about $28,000. Comerica Bank acquired a new stake in shares of Opus Genetics in the first quarter valued at about $29,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Opus Genetics in the first quarter valued at about $47,000. Finally, Voss Capital LP acquired a new stake in Opus Genetics during the 1st quarter valued at approximately $147,000. Institutional investors and hedge funds own 14.97% of the company’s stock.

About Opus Genetics

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.