Opus Genetics (NASDAQ:IRD – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday, Wall Street Zen reports.
A number of other equities analysts have also issued reports on IRD. Wedbush upped their target price on Opus Genetics from $10.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Chardan Capital reissued a “buy” rating and set a $16.00 price target on shares of Opus Genetics in a research report on Friday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Opus Genetics in a report on Monday, June 15th. Zacks Research upgraded shares of Opus Genetics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer raised their price objective on shares of Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.92.
Check Out Our Latest Analysis on Opus Genetics
Opus Genetics Price Performance
Opus Genetics (NASDAQ:IRD – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $2.63 million. As a group, equities analysts expect that Opus Genetics will post -0.99 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Robert E. Gagnon sold 28,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $4.54, for a total value of $127,120.00. Following the transaction, the chief financial officer directly owned 556,375 shares in the company, valued at approximately $2,525,942.50. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO George Magrath sold 9,475 shares of Opus Genetics stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total transaction of $27,951.25. Following the completion of the transaction, the chief executive officer directly owned 1,731,869 shares of the company’s stock, valued at $5,109,013.55. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 613,331 shares of company stock valued at $2,971,509 over the last 90 days. 11.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On Opus Genetics
Several institutional investors and hedge funds have recently bought and sold shares of the business. Opaleye Management Inc. boosted its stake in Opus Genetics by 0.4% in the second quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock valued at $4,624,000 after acquiring an additional 5,000 shares during the period. Engineers Gate Manager LP bought a new position in shares of Opus Genetics during the second quarter valued at approximately $50,000. Squarepoint Ops LLC acquired a new stake in shares of Opus Genetics during the 2nd quarter worth approximately $1,360,000. Nantahala Capital Management LLC acquired a new stake in shares of Opus Genetics during the 2nd quarter worth approximately $12,582,185. Finally, Empowered Funds LLC bought a new stake in shares of Opus Genetics in the 2nd quarter worth approximately $173,000. Institutional investors and hedge funds own 14.97% of the company’s stock.
Opus Genetics Company Profile
Opus Genetics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, a group of rare disorders that can cause progressive vision loss and blindness. The company’s research is centered on therapies intended to address the underlying genetic causes of these conditions rather than treating only their symptoms.
Opus Genetics is advancing an investigational pipeline of adeno-associated virus-based gene therapy candidates for diseases involving mutations in genes important to retinal function.
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