Opus Genetics (NASDAQ:IRD) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Opus Genetics (NASDAQ:IRD) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other research analysts have also issued reports on IRD. Citigroup started coverage on Opus Genetics in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a report on Tuesday, April 21st. Citizens Jmp lowered their target price on Opus Genetics from $12.00 to $11.00 and set a “market outperform” rating on the stock in a report on Wednesday. Craig Hallum set a $9.00 price target on Opus Genetics and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Cantor Fitzgerald assumed coverage on Opus Genetics in a research note on Monday, March 30th. They issued an “overweight” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Opus Genetics presently has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Opus Genetics Stock Down 3.4%

NASDAQ:IRD opened at $4.80 on Friday. The business’s 50-day moving average price is $4.99 and its 200 day moving average price is $3.34. The firm has a market cap of $390.72 million, a P/E ratio of -3.61 and a beta of 0.62. Opus Genetics has a 52-week low of $0.90 and a 52-week high of $5.81.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Tuesday, May 12th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.59). The firm had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.93 million. Opus Genetics had a negative return on equity of 709.20% and a negative net margin of 892.36%. Sell-side analysts expect that Opus Genetics will post -1 EPS for the current year.

Insider Buying and Selling

In other Opus Genetics news, President Benjamin R. Yerxa sold 7,470 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $5.24, for a total transaction of $39,142.80. Following the completion of the sale, the president directly owned 711,535 shares in the company, valued at approximately $3,728,443.40. This trade represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ashwath Jayagopal sold 7,542 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $5.19, for a total value of $39,142.98. Following the sale, the insider owned 509,233 shares of the company’s stock, valued at $2,642,919.27. The trade was a 1.46% 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. Over the last 90 days, insiders sold 73,395 shares of company stock worth $382,278. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

A number of institutional investors have recently bought and sold shares of the business. Nantahala Capital Management LLC boosted its position in Opus Genetics by 42.9% during the 4th quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock worth $9,610,000 after acquiring an additional 1,435,407 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Opus Genetics during the 4th quarter worth about $5,463,000. Millennium Management LLC acquired a new stake in Opus Genetics during the 4th quarter worth about $4,025,000. Mink Brook Asset Management LLC boosted its position in Opus Genetics by 34.5% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock worth $3,348,000 after acquiring an additional 427,684 shares during the period. Finally, Vanguard Group Inc. boosted its position in Opus Genetics by 35.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock worth $2,214,000 after acquiring an additional 349,825 shares during the period. 14.97% of the stock is currently owned by institutional investors and hedge funds.

Opus Genetics News Summary

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

• Positive Sentiment: HC Wainwright raised its estimates for Opus Genetics’ Q2, Q3, and Q4 2026 earnings and improved its FY2027 EPS forecast, suggesting some analyst confidence in the company’s outlook.
• Neutral Sentiment: Several recent articles focused on analyst commentary and an upcoming earnings update, keeping IRD on investors’ radar but not providing any new business or clinical catalysts.
• Negative Sentiment: Zacks Research downgraded Opus Genetics from hold to strong sell, a negative signal that may have added selling pressure on the shares. Zacks Research downgrade
• Negative Sentiment: Citizens JMP lowered its price target on Opus Genetics, reinforcing cautious sentiment around the stock. Price target lowered to $11.00

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.