Opus Genetics (NASDAQ:IRD) Stock Price Target Raised at HC Wainwright

Opus Genetics (NASDAQ:IRD) had its price target boosted by HC Wainwright from $8.00 to $14.00 in a report issued on Wednesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

IRD has been the subject of several other reports. TD Cowen initiated coverage on shares of Opus Genetics in a research note on Wednesday, July 29th. They set a “buy” rating for the company. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of Opus Genetics in a report on Wednesday, September 9th. Citizens Jmp restated a “market outperform” rating and issued a $17.00 target price on shares of Opus Genetics in a report on Friday, October 16th. Oppenheimer lifted their price target on shares of Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Finally, Chardan Capital reiterated a “buy” rating and set a $16.00 price target on shares of Opus Genetics in a report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Opus Genetics has a consensus rating of “Moderate Buy” and a consensus price target of $13.29.

Opus Genetics Stock Performance

Shares of IRD stock opened at $4.31 on Wednesday. Opus Genetics has a 1 year low of $1.70 and a 1 year high of $7.07. The stock’s 50 day simple moving average is $4.51 and its two-hundred day simple moving average is $4.23.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.31). The firm had revenue of $1.14 million during the quarter, compared to analysts’ expectations of $1.55 million. As a group, sell-side analysts forecast that Opus Genetics will post -0.97 EPS for the current year.

Insider Activity at Opus Genetics

In other Opus Genetics news, CFO Robert E. Gagnon sold 28,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total value of $127,120.00. Following the completion of the sale, the chief financial officer directly owned 556,375 shares in the company, valued at approximately $2,525,942.50. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Benjamin R. Yerxa sold 33,189 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $3.54, for a total value of $117,489.06. Following the completion of the sale, the president owned 670,917 shares of the company’s stock, valued at $2,375,046.18. This represents a 4.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 673,805 shares of company stock valued at $3,213,582 over the last 90 days. 11.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Opus Genetics

Several institutional investors have recently made changes to their positions in IRD. HighTower Advisors LLC purchased a new position in Opus Genetics during the 3rd quarter valued at about $99,000. StoneRidge PMG Advisors LLC bought a new position in shares of Opus Genetics during the third quarter valued at approximately $61,000. StoneX Group Inc. bought a new position in shares of Opus Genetics during the third quarter valued at approximately $76,000. Miller Financial Services LLC increased its holdings in Opus Genetics by 11.1% during the third quarter. Miller Financial Services LLC now owns 30,000 shares of the company’s stock valued at $145,000 after buying an additional 3,000 shares during the period. Finally, Sanders Morris Harris LLC purchased a new position in Opus Genetics during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Opus Genetics News Summary

These are some of the IRD news items that stood out recently:

• Positive Sentiment: Royal Bank of Canada raised its price target to $11 from $9 and maintained an “outperform” rating. TickerReport article
• Positive Sentiment: HC Wainwright lifted its target to $14 from $8 and reiterated a “buy” rating, signaling increased analyst optimism. HC Wainwright rating information
• Negative Sentiment: Opus reported a larger quarterly loss than analysts expected and revenue of $1.14 million, below the $1.55 million consensus estimate. The earnings miss could weigh on sentiment despite the pipeline updates. Zacks earnings coverage

Opus Genetics Company Profile

Opus Genetics, Inc. is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, rare conditions that can cause progressive vision loss. Its programs target specific genetic causes of these disorders, including mutations associated with Leber congenital amaurosis and retinitis pigmentosa. The company’s therapies are investigational and are designed to address the underlying genetic defects rather than only manage symptoms. Opus Genetics was formed through the combination of Opus Genetics and Ocuphire Pharma; the combined company took the Opus Genetics name and began trading on Nasdaq under the symbol IRD in 2024.