Opus Genetics (NASDAQ:IRD) Rating Increased to Hold at Wall Street Zen

Opus Genetics (NASDAQ:IRD) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued reports about the company. Wedbush initiated coverage on Opus Genetics in a research report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price for the company. Chardan Capital reiterated a “buy” rating and set a $9.00 price objective on shares of Opus Genetics in a report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Wednesday, October 8th. B. Riley started coverage on shares of Opus Genetics in a research note on Wednesday, December 10th. They set a “buy” rating and a $9.00 price target for the company. Finally, Brookline Capital Management upgraded Opus Genetics to a “strong-buy” rating in a report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.86.

Opus Genetics Price Performance

Opus Genetics stock opened at $2.10 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $144.82 million, a PE ratio of -1.12 and a beta of 0.41. Opus Genetics has a 12-month low of $0.65 and a 12-month high of $2.59. The firm has a 50-day moving average price of $2.06 and a 200-day moving average price of $1.67.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, beating 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 firm had revenue of $3.08 million for the quarter, compared to analysts’ expectations of $3.07 million. As a group, equities research analysts forecast that Opus Genetics will post -1.22 EPS for the current year.

Insider Activity at Opus Genetics

In other Opus Genetics news, Director Fighting Blindness Foundation sold 4,000,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the sale, the director 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cam Gallagher purchased 83,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was bought at an average price of $1.97 per share, for a total transaction of $163,510.00. Following the completion of the acquisition, the director directly owned 83,000 shares in the company, valued at approximately $163,510. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its stake in Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares during the last quarter. Comerica Bank purchased a new position in shares of Opus Genetics in the 1st quarter worth approximately $29,000. Two Sigma Investments LP raised its stake in shares of Opus Genetics by 169.6% during the 3rd quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock worth $179,000 after acquiring an additional 68,148 shares in the last quarter. Citadel Advisors LLC lifted its position in Opus Genetics by 496.9% during the third quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock valued at $187,000 after acquiring an additional 94,416 shares during the last quarter. Finally, Creative Planning acquired a new stake in Opus Genetics in the third quarter valued at approximately $212,000. 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.