BTIG Research Increases Opus Genetics (NASDAQ:IRD) Price Target to $12.00

Opus Genetics (NASDAQ:IRD) had its target price hoisted by stock analysts at BTIG Research from $7.00 to $12.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 182.35% from the stock’s previous close.

A number of other analysts also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. Piper Sandler began coverage on shares of Opus Genetics in a research note on Tuesday, November 25th. They set an “overweight” rating and a $7.00 price objective on the stock. Chardan Capital restated a “buy” rating and issued a $9.00 target price on shares of Opus Genetics in a research report on Thursday, November 13th. B. Riley Financial assumed coverage on 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, Lifesci Capital upgraded Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.38.

Opus Genetics Price Performance

Shares of NASDAQ IRD opened at $4.25 on Monday. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $4.49. The firm’s 50-day simple moving average is $2.74 and its 200 day simple moving average is $2.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. The stock has a market cap of $293.08 million, a P/E ratio of -2.26 and a beta of 0.45.

Insider Buying and Selling at Opus Genetics

In related news, Director Cam Gallagher acquired 83,000 shares of the business’s stock in a transaction on Monday, December 29th. The stock was bought at an average cost of $1.97 per share, with a total value of $163,510.00. Following the completion of the acquisition, the director owned 83,000 shares in the company, valued at $163,510. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the completion of the sale, the director owned 5,492,171 shares in the company, valued at $11,808,167.65. This represents a 42.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Opus Genetics

Several large investors have recently made changes to their positions in IRD. Occudo Quantitative Strategies LP bought a new position in shares of Opus Genetics in the fourth quarter valued at about $25,000. Virtu Financial LLC acquired a new stake in Opus Genetics in the 4th quarter valued at about $34,000. Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics in the 4th quarter valued at about $40,000. Raymond James Financial Inc. raised its stake in shares of Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Opus Genetics by 12.3% during the fourth quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock worth $55,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors own 14.97% of the company’s stock.

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.