Opus Genetics (NASDAQ:IRD) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Opus Genetics (NASDAQ:IRD) from a sell rating to a hold rating in a research note issued to investors on Thursday.

A number of other analysts also recently commented on the company. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Opus Genetics in a report on Tuesday, April 1st. Craig Hallum assumed coverage on shares of Opus Genetics in a research note on Friday, April 11th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Jones Trading cut their price target on Opus Genetics from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st.

Opus Genetics Stock Performance

NASDAQ IRD opened at $1.02 on Thursday. The business has a fifty day moving average of $0.92. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $1.56. The firm has a market capitalization of $46.39 million, a PE ratio of -0.94 and a beta of 0.06.

Opus Genetics (NASDAQ:IRD) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The company had revenue of $4.30 million during the quarter, compared to the consensus estimate of $4.00 million. As a group, analysts forecast that Opus Genetics will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Opus Genetics in the 1st quarter worth about $26,000. Apollon Wealth Management LLC bought a new stake in shares of Opus Genetics during the first quarter valued at approximately $28,000. Comerica Bank bought a new stake in Opus Genetics during the 1st quarter valued at $29,000. Kestra Private Wealth Services LLC bought a new stake in shares of Opus Genetics during the first quarter valued at about $47,000. Finally, Voss Capital LP bought a new stake in shares of Opus Genetics during the 1st quarter worth about $147,000. Institutional investors and hedge funds 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.