Opus Genetics, Inc. (NASDAQ:IRD) Receives $7.67 Consensus PT from Analysts

Opus Genetics, Inc. (NASDAQ:IRD) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $7.6667.

A number of equities research analysts have recently issued reports on IRD shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wall Street Zen downgraded Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Brookline Capital Management raised shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Chardan Capital restated a “buy” rating and set a $9.00 price target on shares of Opus Genetics in a report on Thursday, November 13th. Finally, B. Riley started coverage on shares of Opus Genetics in a report on Wednesday. They issued a “buy” rating on the stock.

Opus Genetics Trading Up 4.4%

NASDAQ:IRD opened at $2.39 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $164.81 million, a P/E ratio of -1.27 and a beta of 0.42. The company’s 50-day simple moving average is $2.01 and its 200 day simple moving average is $1.46. Opus Genetics has a one year low of $0.65 and a one year high of $2.48.

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

Institutional Trading of Opus Genetics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. lifted its holdings in Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after buying an additional 11,000 shares during the period. Voss Capital LP lifted its position in Opus Genetics by 3.9% during the 3rd quarter. Voss Capital LP now owns 562,377 shares of the company’s stock worth $928,000 after acquiring an additional 21,218 shares during the period. Virtu Financial LLC purchased a new stake in Opus Genetics in the first quarter valued at approximately $26,000. Comerica Bank purchased a new stake in shares of Opus Genetics in the 1st quarter valued at $29,000. Finally, 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 period. Institutional investors own 14.97% of the company’s stock.

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.