Opus Genetics (NASDAQ:IRD) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Opus Genetics (NASDAQ:IRD) from a sell rating to a hold rating in a report issued on Saturday.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler assumed coverage on shares of Opus Genetics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wedbush began coverage on Opus Genetics in a report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 price target on the stock. B. Riley began coverage on Opus Genetics in a research report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of Opus Genetics in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and an average target price of $7.86.

Opus Genetics Price Performance

Shares of NASDAQ:IRD opened at $2.10 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The stock has a market cap of $144.82 million, a PE ratio of -1.12 and a beta of 0.41. The stock’s fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $1.68. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $2.59.

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

Insider Transactions at Opus Genetics

In other news, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cam Gallagher purchased 83,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $1.97 per share, for a total transaction of $163,510.00. Following the completion of the purchase, the director directly owned 83,000 shares in the company, valued at $163,510. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. BIOS Capital Management LP lifted its position in shares of 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 acquiring an additional 2,688,180 shares in the last quarter. Voss Capital LP raised its stake in shares of Opus Genetics by 260.8% during the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after purchasing an additional 391,159 shares during the period. Mink Brook Asset Management LLC lifted its holdings in Opus Genetics by 47.8% during the 2nd quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock worth $1,128,000 after purchasing an additional 387,536 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Opus Genetics by 35.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock worth $2,214,000 after purchasing an additional 349,825 shares in the last quarter. Finally, Royal Bank of Canada bought a new position in Opus Genetics in the 1st quarter worth about $299,000. 14.97% of the stock is currently owned by hedge funds and other institutional investors.

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.