Opus Genetics (NASDAQ:IRD) Stock Price Target Raised at Royal Bank Of Canada

Opus Genetics (NASDAQ:IRD) had its price objective raised by Royal Bank Of Canada from $9.00 to $11.00 in a research report report published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on IRD. HC Wainwright lifted their price target on shares of Opus Genetics from $8.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen assumed coverage on shares of Opus Genetics in a research note on Wednesday, July 29th. They set a “buy” rating on the stock. Zacks Research raised shares of Opus Genetics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Oppenheimer raised their price objective on shares of Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $17.00 target price on shares of Opus Genetics in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.29.

Opus Genetics Stock Up 1.9%

Shares of IRD stock opened at $4.31 on Wednesday. The stock’s fifty day simple moving average is $4.51 and its 200 day simple moving average is $4.23. Opus Genetics has a one year low of $1.70 and a one year high of $7.07.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.31). The business had revenue of $1.14 million during the quarter, compared to analysts’ expectations of $1.55 million. Equities research analysts expect that Opus Genetics will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Opus Genetics news, CEO George Magrath sold 28,258 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $3.90, for a total transaction of $110,206.20. Following the sale, the chief executive officer owned 2,010,636 shares of the company’s stock, valued at $7,841,480.40. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Gagnon sold 28,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the sale, the chief financial officer owned 556,375 shares of the company’s stock, valued at $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 673,805 shares of company stock valued at $3,213,582. 11.70% of the stock is owned by corporate insiders.

Institutional Trading of Opus Genetics

Several hedge funds have recently modified their holdings of IRD. Sanders Morris Harris LLC bought a new position in Opus Genetics in the 3rd quarter worth approximately $58,000. Engineers Gate Manager LP acquired a new stake in shares of Opus Genetics in the 2nd quarter valued at $50,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Opus Genetics in the 2nd quarter valued at $47,000. StoneRidge PMG Advisors LLC bought a new stake in shares of Opus Genetics during the third quarter worth $61,000. Finally, StoneX Group Inc. bought a new stake in shares of Opus Genetics during the third quarter worth $76,000. 14.97% of the stock is owned by institutional investors.

Trending Headlines about Opus Genetics

Investors following IRD have been watching these headlines:

• Positive Sentiment: The company reported progress across its gene-therapy pipeline: BEST1 Cohort 2 dosing is complete, its LCA5 Phase 3 trial is fully enrolled, and the FDA cleared its RDH12 investigational application. It expects further trial activity and data in the coming quarters. Opus also said its cash runway is expected to extend into 2029. Opus Genetics third-quarter update
• Neutral Sentiment: A report listed short interest at zero shares, so it provides no evident indication of notable short positioning.
• Negative Sentiment: Opus reported a larger quarterly loss than analysts expected and revenue of $1.14 million, below the $1.55 million consensus estimate. The earnings miss could weigh on sentiment despite the pipeline updates. Zacks earnings coverage

Opus Genetics Company Profile

Opus Genetics, Inc. is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, rare conditions that can cause progressive vision loss. Its programs target specific genetic causes of these disorders, including mutations associated with Leber congenital amaurosis and retinitis pigmentosa. The company’s therapies are investigational and are designed to address the underlying genetic defects rather than only manage symptoms. Opus Genetics was formed through the combination of Opus Genetics and Ocuphire Pharma; the combined company took the Opus Genetics name and began trading on Nasdaq under the symbol IRD in 2024.