Opus Genetics’ (IRD) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research report report published on Thursday morning,Benzinga reports. Chardan Capital currently has a $9.00 price target on the stock.

Several other research firms have also issued reports on IRD. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wedbush initiated coverage on shares of Opus Genetics in a report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Opus Genetics presently has a consensus rating of “Moderate Buy” and an average target price of $7.80.

Opus Genetics Trading Up 1.6%

Shares of NASDAQ IRD opened at $1.88 on Thursday. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $2.37. The firm has a market capitalization of $122.21 million, a P/E ratio of -0.98 and a beta of 0.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50 day simple moving average is $1.83 and its 200 day simple moving average is $1.33.

Opus Genetics (NASDAQ:IRD) last issued its earnings results on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. Opus Genetics had a negative net margin of 377.89% and a negative return on equity of 384.33%. The company had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $3.07 million. On average, analysts predict that Opus Genetics will post -1.22 EPS for the current year.

Institutional Investors Weigh In On Opus Genetics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning acquired a new position in Opus Genetics during the 3rd quarter worth approximately $212,000. Raymond James Financial Inc. grew its position in Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares in the last quarter. Two Sigma Investments LP increased its stake in Opus Genetics by 169.6% in the 3rd quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock valued at $179,000 after buying an additional 68,148 shares during the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 349,825 shares in the last quarter. Finally, Opaleye Management Inc. boosted its stake in shares of Opus Genetics by 3.8% during the 2nd quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock worth $1,149,000 after buying an additional 45,000 shares during the last quarter. Institutional investors and hedge funds 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.