Opus Genetics (NASDAQ:IRD) Raised to Hold at Wall Street Zen

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

Other equities research analysts also recently issued research reports about the company. Craig Hallum assumed coverage on Opus Genetics in a report on Friday, April 11th. They issued a “buy” rating and a $6.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Opus Genetics in a report on Tuesday, April 1st. Finally, Jones Trading cut their price target on Opus Genetics from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, April 1st.

Opus Genetics Trading Up 1.0%

NASDAQ IRD opened at $1.02 on Thursday. The firm has a market cap of $46.39 million, a P/E ratio of -0.94 and a beta of 0.06. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $1.56. The firm has a 50 day moving average of $0.92.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.02. The company had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.00 million. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. As a group, equities analysts predict that Opus Genetics will post -1.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Opus Genetics

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new stake in Opus Genetics during the 1st quarter valued at $299,000. Comerica Bank acquired a new stake in Opus Genetics during the 1st quarter valued at $29,000. AWM Investment Company Inc. bought a new position in Opus Genetics during the 1st quarter worth $515,000. Nantahala Capital Management LLC bought a new position in Opus Genetics during the 1st quarter worth $3,100,000. Finally, BIOS Capital Management LP bought a new position in Opus Genetics during the 1st quarter worth $977,000. Institutional investors and hedge funds 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.