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

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $7.8571.

A number of brokerages have recently commented on IRD. Piper Sandler initiated coverage on Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Opus Genetics from a “hold” rating to a “sell” rating in a research note on Saturday. Brookline Capital Management raised shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Wedbush started coverage on shares of Opus Genetics in a research report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 target price for the company.

Opus Genetics Stock Up 0.5%

Shares of NASDAQ:IRD opened at $2.13 on Tuesday. The company has a 50 day moving average price of $2.06 and a two-hundred day moving average price of $1.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $146.88 million, a PE ratio of -1.13 and a beta of 0.41. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $2.59.

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

Insider Activity

In related news, Director Fighting Blindness Foundation sold 4,000,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total value of $8,600,000.00. Following the completion of the transaction, the director directly owned 5,492,171 shares of the company’s stock, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cam Gallagher acquired 83,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was purchased at an average cost of $1.97 per share, with a total value of $163,510.00. Following the transaction, the director owned 83,000 shares in the company, valued at approximately $163,510. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.60% of the stock is owned by company insiders.

Institutional Trading of Opus Genetics

Hedge funds have recently made changes to their positions in the business. BIOS Capital Management LP boosted its position in Opus Genetics by 270.1% during the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,688,180 shares during the period. AWM Investment Company Inc. bought a new position in shares of Opus Genetics in the first quarter valued at about $515,000. Nantahala Capital Management LLC acquired a new stake in shares of Opus Genetics during the 1st quarter worth about $3,100,000. Voss Capital LP lifted its stake in shares of Opus Genetics by 260.8% during the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock worth $510,000 after buying an additional 391,159 shares during the last quarter. Finally, Mink Brook Asset Management LLC boosted its holdings in shares of 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 buying an additional 40,331 shares during the period. 14.97% of the stock is owned by institutional investors and hedge funds.

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.