Analysts Set Opus Genetics, Inc. (NASDAQ:IRD) PT at $7.67

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.6667.

Several research analysts have issued reports on the stock. Chardan Capital restated a “buy” rating and issued a $9.00 price target on shares of Opus Genetics in a research report on Thursday, November 13th. Brookline Capital Management raised Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a report on Wednesday, October 8th. Wedbush assumed coverage on Opus Genetics in a report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price for the company. Finally, Piper Sandler assumed coverage on Opus Genetics in a research report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IRD. Raymond James Financial Inc. increased its position in shares of Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares in the last quarter. Voss Capital LP boosted its stake in Opus Genetics by 3.9% in the 3rd quarter. Voss Capital LP now owns 562,377 shares of the company’s stock worth $928,000 after purchasing an additional 21,218 shares during the period. Virtu Financial LLC acquired a new position in Opus Genetics in the 1st quarter worth approximately $26,000. Comerica Bank purchased a new position in Opus Genetics during the 1st quarter worth approximately $29,000. Finally, Mink Brook Asset Management LLC raised its stake in Opus Genetics by 3.4% during the 3rd quarter. Mink Brook Asset Management LLC now owns 1,237,947 shares of the company’s stock valued at $2,043,000 after purchasing an additional 40,331 shares during the period. 14.97% of the stock is currently owned by institutional investors and hedge funds.

Opus Genetics Price Performance

Shares of NASDAQ IRD opened at $2.27 on Friday. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $2.37. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $1.98 and a two-hundred day moving average of $1.44. The company has a market capitalization of $156.54 million, a price-to-earnings ratio of -1.21 and a beta of 0.42.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. Opus Genetics had a negative net margin of 466.09% and a negative return on equity of 697.94%. The company had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, analysts expect that Opus Genetics will post -1.22 earnings per share for the current fiscal year.

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.