Opus Genetics (NASDAQ:IRD) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Opus Genetics (NASDAQ:IRD) in a report issued on Monday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $10.00 target price on the stock.

Several other equities analysts have also recently weighed in on IRD. Craig Hallum set a $9.00 target price on shares of Opus Genetics and gave the company a “buy” rating in a research note on Wednesday, March 11th. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Chardan Capital increased their price target on shares of Opus Genetics from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Brookline Capital Acquisition raised shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Wedbush boosted their price objective on shares of Opus Genetics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $9.33.

Opus Genetics Stock Down 2.9%

NASDAQ:IRD opened at $4.66 on Monday. The firm has a market capitalization of $331.56 million, a price-to-earnings ratio of -5.68 and a beta of 0.45. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $5.30. The stock’s 50 day moving average price is $3.35 and its two-hundred day moving average price is $2.41.

Insider Buying and Selling

In other news, Director Cam Gallagher bought 83,000 shares of the stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $1.97 per share, for a total transaction of $163,510.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George Magrath sold 24,438 shares of Opus Genetics stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $5.21, for a total value of $127,321.98. Following the sale, the chief executive officer directly owned 1,750,855 shares of the company’s stock, valued at approximately $9,121,954.55. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 34,692 shares of company stock valued at $180,672. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRD. Balyasny Asset Management L.P. acquired a new stake in shares of Opus Genetics during the fourth quarter worth $5,463,000. BIOS Capital Management LP grew its stake in shares of Opus Genetics by 270.1% in the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after acquiring an additional 2,688,180 shares in the last quarter. Millennium Management LLC bought a new position in Opus Genetics during the fourth quarter worth about $4,025,000. Nantahala Capital Management LLC increased its position in Opus Genetics by 42.9% during the fourth 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. Finally, Mink Brook Asset Management LLC raised its stake in Opus Genetics by 34.5% in the 4th quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock worth $3,348,000 after purchasing an additional 427,684 shares in the last quarter. Institutional investors own 14.97% of the company’s stock.

Opus Genetics News Roundup

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

• Positive Sentiment: Oppenheimer initiated coverage of Opus Genetics with an Outperform recommendation, bringing fresh analyst attention that can support the share price and increase institutional interest. Oppenheimer initiates coverage of Opus Genetics (IRD) with outperform recommendation
• Neutral Sentiment: Market metrics show a small-cap company with a negative trailing P/E, a beta below 1, and 50‑/200‑day moving averages above the two‑hundred day average — useful context for momentum and volatility assessments.
• Negative Sentiment: CEO George Magrath sold 24,438 shares at an average price of $5.21 (≈$127k), reducing his stake by ~1.38%; insider sale disclosed in an SEC Form 4. SEC Filing – Magrath Form 4
• Negative Sentiment: COO Joseph K. Schachle sold 3,719 shares at about $5.25 (~$19.5k), trimming his position by ~1.22%; sale disclosed via SEC filing. SEC Filing – Schachle Form 4
• Negative Sentiment: Insider Ashwath Jayagopal sold 3,719 shares at ~$5.12 (~$19.0k), a ~0.71% reduction in his holdings; disclosed in an SEC filing. SEC Filing – Jayagopal Form 4
• Negative Sentiment: Insider Rabourn Amy Zaremba sold 2,816 shares at ~$5.25 (~$14.8k), lowering her stake by ~1.46%; disclosed in an SEC filing. SEC Filing – Zaremba Form 4

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.