Opus Genetics (NASDAQ:IRD) Receives “Buy” Rating from BTIG Research

BTIG Research reissued their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a report published on Wednesday morning,Benzinga reports. The firm currently has a $7.00 price target on the stock.

A number of other research firms also recently issued reports on IRD. Brookline Capital Management upgraded Opus Genetics to a “strong-buy” rating in a report on Monday, December 1st. Chardan Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Opus Genetics in a report on Thursday, November 13th. Wedbush began coverage on shares of Opus Genetics in a research report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 price objective on the stock. B. Riley started coverage on shares of Opus Genetics in a research report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Opus Genetics currently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Opus Genetics Trading Down 4.6%

Shares of NASDAQ:IRD opened at $2.70 on Wednesday. The firm has a market cap of $186.19 million, a price-to-earnings ratio of -1.44 and a beta of 0.41. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $3.05. The company’s fifty day simple moving average is $2.16 and its 200 day simple moving average is $1.76. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Wednesday, November 12th. The company reported ($0.12) earnings per share (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 firm had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $3.07 million. As a group, research analysts forecast that Opus Genetics will post -1.22 EPS for the current fiscal year.

Insider Buying and Selling at Opus Genetics

In other Opus Genetics news, Director Fighting Blindness Foundation sold 4,000,000 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total value of $8,600,000.00. Following the completion of the sale, the director owned 5,492,171 shares in the company, valued at $11,808,167.65. This trade represents a 42.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cam Gallagher acquired 83,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was purchased at an average cost of $1.97 per share, with a total value of $163,510.00. Following the transaction, the director owned 83,000 shares in the company, valued at approximately $163,510. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Opus Genetics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank acquired a new stake in shares of Opus Genetics in the first quarter valued at approximately $29,000. Raymond James Financial Inc. lifted its holdings in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares during the last quarter. Two Sigma Investments LP lifted its holdings 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 last quarter. Citadel Advisors LLC boosted its position in Opus Genetics by 496.9% during the third quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock worth $187,000 after purchasing an additional 94,416 shares during the period. Finally, Creative Planning acquired a new position in shares of Opus Genetics in the third quarter valued at $212,000. 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.