Opus Genetics (NASDAQ:IRD) Now Covered by Oppenheimer

Oppenheimer started coverage on shares of Opus Genetics (NASDAQ:IRD) in a report published on Monday, MarketBeat reports. The firm issued an outperform rating and a $10.00 target price on the stock.

Several other research firms also recently weighed in on IRD. Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a report on Thursday, February 12th. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Chardan Capital lifted their price target on Opus Genetics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Wedbush boosted their price objective on Opus Genetics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Finally, B. Riley Financial initiated coverage on Opus Genetics in a report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $9.33.

Opus Genetics Price Performance

NASDAQ IRD opened at $5.19 on Monday. Opus Genetics has a 1 year low of $0.65 and a 1 year high of $5.30. The company has a market capitalization of $369.27 million, a PE ratio of -6.33 and a beta of 0.44. The company has a fifty day moving average of $3.25 and a two-hundred day moving average of $2.37.

Insider Activity

In related news, Director Cam Gallagher purchased 83,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $1.97 per share, with a total value of $163,510.00. Following the completion of the acquisition, the director directly owned 83,000 shares in the company, valued at $163,510. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Opus Genetics

A number of hedge funds have recently added to or reduced their stakes in the stock. Blair William & Co. IL grew its stake in shares of Opus Genetics by 12.3% in the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after purchasing an additional 3,000 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Opus Genetics by 95.6% during the third 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. Occudo Quantitative Strategies LP purchased a new position in Opus Genetics in the 4th quarter valued at $25,000. Virtu Financial LLC acquired a new position in Opus Genetics in the 4th quarter valued at $34,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Opus Genetics during the 4th quarter worth $40,000. 14.97% of the stock is owned by institutional investors and hedge funds.

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.