Opus Genetics, Inc. (NASDAQ:IRD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.8571.

Several research analysts have commented on IRD shares. Brookline Capital Management raised Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Wedbush started coverage on shares of Opus Genetics in a research report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $9.00 target price on shares of Opus Genetics in a report on Thursday, November 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th.

Opus Genetics Price Performance

Shares of IRD opened at $1.99 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $2.59. The stock has a market cap of $137.23 million, a PE ratio of -1.06 and a beta of 0.42. The firm has a fifty day moving average price of $2.05 and a 200 day moving average price of $1.57.

Opus Genetics (NASDAQ:IRD) last posted its earnings results on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Opus Genetics had a negative return on equity of 697.94% and a negative net margin of 466.09%.The business had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, sell-side analysts anticipate that Opus Genetics will post -1.22 EPS for the current year.

Insider Buying and Selling at Opus Genetics

In related news, Director Fighting Blindness Foundation sold 4,000,000 shares of the firm’s 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 transaction, the director owned 5,492,171 shares of the company’s stock, valued at $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 is available through this link. Company insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IRD. BIOS Capital Management LP boosted its position in Opus Genetics by 270.1% during the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,688,180 shares in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Opus Genetics during the 1st quarter worth $515,000. Nantahala Capital Management LLC purchased a new stake in shares of Opus Genetics in the 1st quarter worth about $3,100,000. Voss Capital LP boosted its position in shares of Opus Genetics by 260.8% in the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock worth $510,000 after buying an additional 391,159 shares in the last quarter. Finally, Mink Brook Asset Management LLC grew its stake in Opus Genetics by 3.4% in the 3rd quarter. Mink Brook Asset Management LLC now owns 1,237,947 shares of the company’s stock valued at $2,043,000 after acquiring an additional 40,331 shares during the last quarter. 14.97% of the stock is currently owned by institutional investors and hedge funds.

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.