Opus Genetics (NASDAQ:IRD) Price Target Raised to $13.00

Opus Genetics (NASDAQ:IRD) had its target price upped by Wedbush from $10.00 to $13.00 in a research report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on the stock. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Guggenheim started coverage on shares of Opus Genetics in a report on Thursday, June 4th. They set a “buy” rating and a $16.00 target price on the stock. Oppenheimer raised their price target on shares of Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $12.00 price target on shares of Opus Genetics in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of Opus Genetics in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.92.

Opus Genetics Stock Down 0.5%

Shares of NASDAQ IRD opened at $6.04 on Thursday. The stock’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $4.34. Opus Genetics has a 52-week low of $1.35 and a 52-week high of $7.07. The stock has a market capitalization of $499.21 million, a P/E ratio of -4.47 and a beta of 0.58.

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

Insider Buying and Selling at Opus Genetics

In other Opus Genetics news, CFO Robert Gagnon sold 28,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total value of $127,120.00. Following the sale, the chief financial officer directly owned 556,375 shares in the company, valued at approximately $2,525,942.50. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO George Magrath sold 9,475 shares of the business’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 directly owned 1,731,869 shares of the company’s stock, valued at approximately $5,109,013.55. This trade represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 57,331 shares of company stock worth $213,749 over the last ninety days. 11.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Opus Genetics in the 2nd quarter valued at approximately $12,809,000. Nantahala Capital Management LLC acquired a new position in Opus Genetics during the 2nd quarter worth $12,582,185. Trails Edge Capital Partners LP acquired a new position in Opus Genetics during the 2nd quarter worth $11,276,434. Balyasny Asset Management L.P. bought a new position in shares of Opus Genetics in the fourth quarter worth $5,463,000. Finally, Millennium Management LLC bought a new position in shares of Opus Genetics in the fourth quarter worth $4,025,000. Institutional investors own 14.97% of the company’s stock.

Key Stories Impacting Opus Genetics

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.