Opus Genetics, Inc. (NASDAQ:IRD) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $11.9231.

A number of equities analysts have recently commented on the stock. Oppenheimer lifted their price target on shares of Opus Genetics from $10.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday. TD Cowen began coverage on shares of Opus Genetics in a report on Wednesday, July 29th. They set a “buy” rating for the company. BTIG Research reaffirmed a “buy” rating and set a $12.00 price objective on shares of Opus Genetics in a report on Wednesday. Chardan Capital raised their target price on shares of Opus Genetics from $13.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wedbush boosted their target price on shares of Opus Genetics from $10.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday.

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.

Insider Activity

In related news, CEO George Magrath sold 9,475 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total transaction of $27,951.25. Following the completion of the sale, the chief executive officer owned 1,731,869 shares in the company, valued at $5,109,013.55. This represents a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert E. Gagnon sold 28,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $4.54, for a total value of $127,120.00. Following the sale, the chief financial officer owned 556,375 shares of the company’s stock, valued at approximately $2,525,942.50. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 57,331 shares of company stock worth $213,749. 11.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Blair William & Co. IL grew its stake in shares of Opus Genetics by 12.3% in the fourth quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock worth $55,000 after acquiring an additional 3,000 shares during the last quarter. Opaleye Management Inc. raised its stake in Opus Genetics by 0.4% during the 2nd quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock valued at $4,624,000 after purchasing an additional 5,000 shares during the last quarter. Seven Fleet Capital Management LP boosted its holdings in Opus Genetics by 6.6% in the 2nd quarter. Seven Fleet Capital Management LP now owns 143,137 shares of the company’s stock valued at $588,000 after purchasing an additional 8,895 shares during the period. Raymond James Financial Inc. boosted its holdings in Opus Genetics by 95.6% in the 3rd 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 period. Finally, Engineers Gate Manager LP acquired a new stake in Opus Genetics in the 2nd quarter worth $50,000. 14.97% of the stock is currently owned by institutional investors and hedge funds.

Opus Genetics Trading Down 0.5%

Shares of NASDAQ:IRD opened at $6.04 on Friday. The stock has a market capitalization of $499.21 million, a PE ratio of -4.47 and a beta of 0.58. Opus Genetics has a 1 year low of $1.35 and a 1 year high of $7.07. The firm has a fifty day moving average price of $3.89 and a 200 day moving average price of $4.34.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (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 the consensus estimate 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, sell-side analysts forecast that Opus Genetics will post -0.99 earnings per share for the current fiscal year.

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.