Opus Genetics (NASDAQ:IRD) Upgraded at Wall Street Zen

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

Several other research firms have also recently issued reports on IRD. B. Riley assumed coverage on shares of Opus Genetics in a research report on Wednesday. They set a “buy” rating and a $9.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Wednesday, October 8th. Chardan Capital reaffirmed a “buy” rating and set a $9.00 price objective on shares of Opus Genetics in a research report on Thursday, November 13th. Wedbush assumed coverage on Opus Genetics in a report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 price objective on the stock. Finally, Brookline Capital Management upgraded Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Opus Genetics presently has an average rating of “Moderate Buy” and a consensus price target of $7.86.

Opus Genetics Stock Performance

Shares of Opus Genetics stock opened at $2.36 on Friday. The business has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $1.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.23 and a current ratio of 1.23. Opus Genetics has a one year low of $0.65 and a one year high of $2.59. The company has a market cap of $162.75 million, a PE ratio of -1.26 and a beta of 0.42.

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

Insider Activity

In other news, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the sale, the director owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. The trade was a 42.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Opus Genetics during the first quarter worth approximately $26,000. Voss Capital LP purchased a new position in shares of Opus Genetics during the first quarter worth approximately $147,000. Mink Brook Asset Management LLC purchased a new position in shares of Opus Genetics during the first quarter worth approximately $795,000. Comerica Bank acquired a new position in shares of Opus Genetics in the 1st quarter valued at $29,000. Finally, BIOS Capital Management LP purchased a new stake in Opus Genetics in the 1st quarter valued at $977,000. 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.