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

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.6667.

IRD has been the topic of several research analyst reports. Piper Sandler started coverage on shares of Opus Genetics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 price target on the stock. Wedbush started coverage on Opus Genetics in a report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price on the stock. Brookline Capital Management upgraded Opus Genetics to a “strong-buy” rating in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Finally, Chardan Capital restated a “buy” rating and set a $9.00 price objective on shares of Opus Genetics in a research note on Thursday, November 13th.

Opus Genetics Stock Up 6.7%

IRD stock opened at $2.23 on Friday. The company has a market capitalization of $153.78 million, a P/E ratio of -1.19 and a beta of 0.42. The firm has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $1.43. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $2.37.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. The firm had revenue of $3.08 million for the quarter, compared to the consensus estimate of $3.07 million. Opus Genetics had a negative net margin of 466.09% and a negative return on equity of 697.94%. On average, equities research analysts predict that Opus Genetics will post -1.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Opus Genetics

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Opus Genetics during the first quarter worth about $26,000. Comerica Bank acquired a new stake in shares of Opus Genetics during the 1st quarter worth approximately $29,000. Raymond James Financial Inc. raised its position in shares of Opus Genetics by 95.6% during the 3rd 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. Voss Capital LP bought a new stake in shares of Opus Genetics in the 1st quarter worth approximately $147,000. Finally, Two Sigma Investments LP boosted its position in Opus Genetics by 169.6% during the 3rd quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock valued at $179,000 after purchasing an additional 68,148 shares during the period. Institutional investors 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.