Citizens Jmp Cuts Opus Genetics (NASDAQ:IRD) Price Target to $11.00

Opus Genetics (NASDAQ:IRD) had its price objective cut by Citizens Jmp from $12.00 to $11.00 in a report released on Wednesday,Benzinga reports. They currently have a market outperform rating on the stock.

Other analysts have also issued reports about the stock. Craig Hallum set a $9.00 price target on shares of Opus Genetics and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Chardan Capital upped their price target on shares of Opus Genetics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Oppenheimer initiated coverage on shares of Opus Genetics in a research report on Monday, March 16th. They set an “outperform” rating and a $10.00 price target on the stock. Wedbush upped their price target on shares of Opus Genetics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Opus Genetics in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.20.

Opus Genetics Stock Down 3.4%

Shares of IRD stock opened at $4.80 on Wednesday. The company’s fifty day simple moving average is $4.99 and its 200-day simple moving average is $3.34. Opus Genetics has a 12 month low of $0.90 and a 12 month high of $5.81. The firm has a market cap of $390.72 million, a PE ratio of -3.61 and a beta of 0.62.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.59). Opus Genetics had a negative return on equity of 709.20% and a negative net margin of 892.36%.The firm had revenue of $2.16 million for the quarter, compared to the consensus estimate of $2.93 million. On average, equities analysts predict that Opus Genetics will post -0.86 earnings per share for the current fiscal year.

Insider Activity at Opus Genetics

In other news, insider Ashwath Jayagopal sold 7,542 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $5.19, for a total value of $39,142.98. Following the transaction, the insider directly owned 509,233 shares of the company’s stock, valued at $2,642,919.27. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 24,438 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $5.21, for a total transaction of $127,321.98. Following the completion of the transaction, the chief executive officer directly owned 1,750,855 shares in the company, valued at $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. Insiders sold 73,395 shares of company stock valued at $382,278 over the last three months. Company insiders own 11.70% of the company’s stock.

Hedge Funds Weigh In On Opus Genetics

Several large investors have recently modified their holdings of IRD. Balyasny Asset Management L.P. bought a new position in shares of Opus Genetics in the fourth quarter valued at about $5,463,000. Millennium Management LLC bought a new position in shares of Opus Genetics in the fourth quarter valued at about $4,025,000. Nantahala Capital Management LLC raised its position in shares of Opus Genetics by 42.9% in the fourth quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock valued at $9,610,000 after purchasing an additional 1,435,407 shares during the period. Mink Brook Asset Management LLC raised its position in shares of Opus Genetics by 34.5% in the fourth quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock valued at $3,348,000 after purchasing an additional 427,684 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Opus Genetics by 35.3% in the third quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock valued at $2,214,000 after purchasing an additional 349,825 shares during the period. 14.97% of the stock is owned by institutional investors.

Trending Headlines about Opus Genetics

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

• Positive Sentiment: HC Wainwright raised its estimates for Opus Genetics’ Q2, Q3, and Q4 2026 earnings and improved its FY2027 EPS forecast, suggesting some analyst confidence in the company’s outlook.
• Neutral Sentiment: Several recent articles focused on analyst commentary and an upcoming earnings update, keeping IRD on investors’ radar but not providing any new business or clinical catalysts.
• Negative Sentiment: Zacks Research downgraded Opus Genetics from hold to strong sell, a negative signal that may have added selling pressure on the shares. Zacks Research downgrade
• Negative Sentiment: Citizens JMP lowered its price target on Opus Genetics, reinforcing cautious sentiment around the stock. Price target lowered to $11.00

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.