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

Chardan Capital reiterated their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a report published on Wednesday morning,Benzinga reports. They currently have a $13.00 target price on the stock.

Several other analysts have also weighed in on IRD. Guggenheim assumed coverage on shares of Opus Genetics in a research note on Thursday, June 4th. They issued a “buy” rating and a $16.00 price objective for the company. BTIG Research reissued a “buy” rating and set a $12.00 target price on shares of Opus Genetics in a research note on Monday, July 6th. Royal Bank Of Canada reduced their price target on shares of Opus Genetics from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. TD Cowen initiated coverage on shares of Opus Genetics in a research note on Wednesday, July 29th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded shares of Opus Genetics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned 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, Opus Genetics has a consensus rating of “Moderate Buy” and a consensus price target of $11.92.

Opus Genetics Price Performance

Shares of IRD stock opened at $6.04 on Wednesday. The business’s 50 day simple moving average is $3.89 and its 200 day simple moving average is $4.34. Opus Genetics has a one year low of $1.35 and a one year high of $7.07. The stock has a market capitalization of $499.21 million, a PE ratio of -4.47 and a beta of 0.58.

Opus Genetics (NASDAQ:IRD) last announced its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. Opus Genetics had a negative net margin of 1,091.82% and a negative return on equity of 338.88%. The business had revenue of $0.76 million during the quarter, compared to the consensus estimate of $2.63 million. As a group, research analysts expect that Opus Genetics will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Opus Genetics

In other Opus Genetics news, CEO George Magrath sold 9,475 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total transaction of $27,951.25. Following the transaction, the chief executive officer owned 1,731,869 shares in the company, valued at approximately $5,109,013.55. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert E. Gagnon sold 28,000 shares of the firm’s stock in a transaction on 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 directly owned 556,375 shares in the company, valued at $2,525,942.50. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 57,331 shares of company stock valued at $213,749. 11.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Opus Genetics

Several hedge funds and other institutional investors have recently made changes to their positions in IRD. Occudo Quantitative Strategies LP acquired a new stake in shares of Opus Genetics in the 4th quarter worth about $25,000. Comerica Bank bought a new position in Opus Genetics in the 1st quarter valued at about $29,000. Virtu Financial LLC bought a new position in Opus Genetics in the 4th quarter valued at about $34,000. Raymond James Financial Inc. boosted its stake in Opus Genetics by 95.6% during the 3rd 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 during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in Opus Genetics during the 4th quarter valued at about $40,000. 14.97% of the stock is owned by institutional investors.

Opus Genetics News Roundup

Here are the key news stories impacting Opus Genetics this week:

• Positive Sentiment: Oppenheimer said Opus Genetics’ stock price is expected to rise, adding another favorable analyst view. Oppenheimer Analyst Says Opus Genetics Stock Price Expected to Rise
• Positive Sentiment: HC Wainwright assigned Opus Genetics a “buy” rating, reinforcing the positive outlook from Wall Street analysts. Opus Genetics Earns Buy Rating from HC Wainwright
• Positive Sentiment: BTIG Research also initiated or reiterated a “buy” rating, potentially improving sentiment toward the biotechnology company. Opus Genetics Earns Buy Rating from BTIG Research
• Positive Sentiment: Unusually heavy options activity included substantial call-option purchases. This can signal bullish positioning, although options flows are speculative and may increase volatility. Traders Purchase High Volume of Call Options on Opus Genetics
• Neutral Sentiment: Reports described analyst opinions as mixed, indicating that bullish price targets are not necessarily shared across the entire analyst community. Analysts’ Opinions Are Mixed on Opus Genetics
• Neutral Sentiment: The reported September short-interest data showed zero shares short, but the figures appear inconsistent and provide little actionable information about investor positioning.

Opus Genetics Company Profile

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.