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

Chardan Capital reissued their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $16.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research report on Sunday, October 4th. Wedbush lifted their price objective on Opus Genetics from $10.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, September 10th. Citizens Jmp reiterated a “market outperform” rating and set a $17.00 price objective on shares of Opus Genetics in a research report on Friday, October 16th. Oppenheimer boosted their price objective on Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Finally, JonesTrading boosted their price objective on Opus Genetics from $10.00 to $17.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.71.

Opus Genetics Trading Down 9.2%

IRD opened at $3.47 on Thursday. The firm has a market capitalization of $286.80 million, a PE ratio of -2.57 and a beta of 0.62. Opus Genetics has a twelve month low of $1.70 and a twelve month high of $7.07. The firm’s 50-day moving average price is $4.52 and its 200 day moving average price is $4.36.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $2.63 million. As a group, analysts predict that Opus Genetics will post -0.97 earnings per share for the current fiscal year.

Insider Activity

In other Opus Genetics news, Director Fighting Blindness Foundation sold 556,000 shares of Opus Genetics stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $4.96, for a total transaction of $2,757,760.00. Following the transaction, the director directly owned 3,236,171 shares of the company’s stock, valued at $16,051,408.16. The trade was a 14.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Gagnon sold 28,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the transaction, the chief financial officer owned 556,375 shares in the company, valued at $2,525,942.50. The trade was a 4.79% decrease in their ownership of the stock. 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. 11.70% of the stock is currently owned by company insiders.

Institutional Trading of Opus Genetics

Institutional investors have recently made changes to their positions in the company. Miller Financial Services LLC lifted its holdings in Opus Genetics by 11.1% in the third quarter. Miller Financial Services LLC now owns 30,000 shares of the company’s stock valued at $145,000 after acquiring an additional 3,000 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in Opus Genetics during the third quarter worth $58,000. Opaleye Management Inc. increased its stake in Opus Genetics by 0.4% during the second quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock worth $4,624,000 after acquiring an additional 5,000 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Opus Genetics during the second quarter worth $50,000. Finally, Squarepoint Ops LLC purchased a new stake in Opus Genetics in the second quarter valued at $1,360,000. 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 (IRDs), a group of rare genetic disorders that can cause progressive vision loss and blindness. The company’s research is aimed at addressing the underlying genetic causes of these conditions rather than treating only their symptoms.

Its pipeline includes investigational ophthalmic gene therapies designed for specific IRD-causing mutations, including programs targeting conditions associated with the NR2E3 and BEST1 genes.