Opus Genetics, Inc. (NASDAQ:IRD) Given Average Rating of “Moderate Buy” by Brokerages

Opus Genetics, Inc. (NASDAQ:IRD) has earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.75.

Several research firms have recently issued reports on IRD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. BTIG Research restated a “buy” rating and set a $7.00 target price on shares of Opus Genetics in a research note on Wednesday. B. Riley began coverage on shares of Opus Genetics in a research note on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price target on the stock. Brookline Capital Management raised shares of Opus Genetics to a “strong-buy” rating in a report on Monday, December 1st. Finally, Wall Street Zen upgraded shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Saturday, January 17th.

Insider Buying and Selling at Opus Genetics

In other news, Director Cam Gallagher acquired 83,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were bought at an average price of $1.97 per share, with a total value of $163,510.00. Following the completion of the acquisition, the director owned 83,000 shares in the company, valued at $163,510. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total value of $8,600,000.00. Following the sale, the director owned 5,492,171 shares in the company, valued at $11,808,167.65. This trade represents a 42.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRD. Raymond James Financial Inc. boosted its holdings 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 valued at $37,000 after acquiring an additional 11,000 shares during the period. Voss Capital LP raised its position in Opus Genetics by 3.9% in the 3rd quarter. Voss Capital LP now owns 562,377 shares of the company’s stock valued at $928,000 after purchasing an additional 21,218 shares during the last quarter. Comerica Bank acquired a new stake in Opus Genetics during the 1st quarter worth $29,000. Mink Brook Asset Management LLC grew its position 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 worth $2,043,000 after purchasing an additional 40,331 shares during the last quarter. Finally, Opaleye Management Inc. grew its position in 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 purchasing an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Opus Genetics Trading Down 4.6%

Shares of NASDAQ:IRD opened at $2.70 on Friday. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $3.05. The company’s 50 day moving average is $2.16 and its two-hundred day moving average is $1.76. The company has a market cap of $186.19 million, a PE ratio of -1.44 and a beta of 0.41. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18.

Opus Genetics (NASDAQ:IRD) last released 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. The business had revenue of $3.08 million during the quarter, compared to analysts’ expectations of $3.07 million. Opus Genetics had a negative net margin of 466.09% and a negative return on equity of 697.94%. Equities analysts predict 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.