Opus Genetics (NASDAQ:IRD – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research note issued on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 207.69% from the stock’s current price.
IRD has been the topic of several other reports. Craig Hallum set a $9.00 target price on shares of Opus Genetics and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Wall Street Zen downgraded shares of Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup began coverage on shares of Opus Genetics in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Zacks Research upgraded shares of Opus Genetics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, Leerink Partners began coverage on shares of Opus Genetics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and a consensus target price of $10.67.
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Opus Genetics Price Performance
Opus Genetics (NASDAQ:IRD – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.59). Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 892.36%.The business had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.93 million. Equities research analysts expect that Opus Genetics will post -1.06 EPS for the current year.
Insider Activity at Opus Genetics
In related news, CEO George Magrath sold 9,511 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $5.22, for a total transaction of $49,647.42. Following the transaction, the chief executive officer owned 1,741,344 shares in the company, valued at $9,089,815.68. The trade was a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Fighting Blindness Foundation sold 1,700,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $4.35, for a total transaction of $7,395,000.00. Following the transaction, the director owned 3,792,171 shares in the company, valued at $16,495,943.85. The trade was a 30.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,738,703 shares of company stock worth $7,596,606 over the last ninety days. 11.70% of the stock is owned by corporate insiders.
Institutional Trading of Opus Genetics
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC grew its stake in shares of Opus Genetics by 496.9% in the 3rd quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock worth $187,000 after acquiring an additional 94,416 shares in the last quarter. Creative Planning bought a new stake in shares of Opus Genetics in the 3rd quarter worth $212,000. Marshall Wace LLP bought a new stake in shares of Opus Genetics in the 4th quarter worth $317,000. State Street Corp grew its stake in shares of Opus Genetics by 18.8% in the 4th quarter. State Street Corp now owns 173,253 shares of the company’s stock worth $348,000 after acquiring an additional 27,380 shares in the last quarter. Finally, Mink Brook Asset Management LLC grew its stake in shares of Opus Genetics by 47.8% in the 2nd quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock worth $1,128,000 after acquiring an additional 387,536 shares in the last quarter. Institutional investors own 14.97% of the company’s stock.
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.
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