Opus Genetics (NASDAQ:IRD – Get Free Report)‘s stock had its “market outperform” rating reissued by analysts at Citizens Jmp in a report released on Friday, Benzinga reports. They currently have a $17.00 price target on the stock. Citizens Jmp’s target price indicates a potential upside of 342.02% from the stock’s current price.
IRD has been the topic of a number of other reports. Oppenheimer boosted their target price on shares of Opus Genetics from $10.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. Wall Street Zen upgraded shares of Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, October 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday. 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, Royal Bank Of Canada dropped their price target on shares of Opus Genetics from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.71.
Check Out Our Latest Stock Report on IRD
Opus Genetics Price Performance
NASDAQ IRD traded down $0.20 during mid-day trading on Friday, reaching $3.85. 533,322 shares of the stock were exchanged, compared to its average volume of 1,424,264. Opus Genetics has a one year low of $1.70 and a one year high of $7.07. The stock has a 50 day simple moving average of $4.50 and a 200-day simple moving average of $4.39. The stock has a market cap of $317.87 million, a P/E ratio of -2.86 and a beta of 0.62.
Opus Genetics (NASDAQ:IRD – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $0.76 million during the quarter, compared to the consensus estimate of $2.63 million. Sell-side analysts anticipate that Opus Genetics will post -0.97 EPS for the current fiscal year.
Insider Transactions at Opus Genetics
In other news, Director Fighting Blindness Foundation sold 556,000 shares of the company’s stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $4.96, for a total value of $2,757,760.00. Following the completion of the sale, the director owned 3,236,171 shares of the company’s stock, valued at approximately $16,051,408.16. This represents a 14.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Magrath sold 9,475 shares of the company’s stock in a transaction on 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 sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 613,331 shares of company stock valued at $2,971,509 in the last quarter. Insiders own 11.70% of the company’s stock.
Institutional Investors Weigh In On Opus Genetics
A number of institutional investors have recently made changes to their positions in the business. Opaleye Management Inc. raised its holdings in Opus Genetics by 0.4% in the second quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock worth $4,624,000 after buying an additional 5,000 shares during the last quarter. Seven Fleet Capital Management LP raised its holdings in Opus Genetics by 6.6% in the second quarter. Seven Fleet Capital Management LP now owns 143,137 shares of the company’s stock worth $588,000 after buying an additional 8,895 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in Opus Genetics in the third quarter worth about $58,000. Engineers Gate Manager LP purchased a new position in Opus Genetics in the second quarter worth about $50,000. Finally, Stoneridge Investment Partners LLC purchased a new position in Opus Genetics in the second quarter worth about $47,000. Hedge funds and other institutional investors 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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