Opus Genetics (NASDAQ:IRD) Given “Buy” Rating at BTIG Research

BTIG Research reiterated their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a report released on Tuesday morning,Benzinga reports. They currently have a $12.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. Leerink Partners started coverage on shares of Opus Genetics in a research note on Thursday, May 21st. They set an “outperform” rating and a $10.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a report on Tuesday, April 21st. Citigroup assumed coverage on shares of Opus Genetics in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Chardan Capital lifted their target price on shares of Opus Genetics from $9.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, March 12th. Finally, Craig Hallum set a $9.00 target price on shares of Opus Genetics and gave the company a “buy” rating in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

Opus Genetics Trading Down 0.3%

Shares of NASDAQ IRD opened at $3.90 on Tuesday. Opus Genetics has a 12 month low of $0.90 and a 12 month high of $5.81. The company has a 50 day simple moving average of $4.76 and a two-hundred day simple moving average of $3.69. The stock has a market cap of $322.01 million, a price-to-earnings ratio of -2.93 and a beta of 0.56.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.59). Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. The business had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.93 million. Analysts forecast that Opus Genetics will post -1.06 EPS for the current year.

Insider Buying and Selling

In related news, insider Ashwath Jayagopal sold 7,542 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $5.19, for a total value of $39,142.98. Following the completion of the sale, the insider owned 509,233 shares of the company’s stock, valued at approximately $2,642,919.27. The trade was a 1.46% 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 E. Gagnon sold 7,842 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.18, for a total transaction of $40,621.56. Following the completion of the sale, the chief financial officer directly owned 592,158 shares of the company’s stock, valued at approximately $3,067,378.44. The trade was a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,738,703 shares of company stock worth $7,596,606 in the last 90 days. 11.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Opus Genetics

Several institutional investors and hedge funds have recently added to or reduced their stakes in IRD. Occudo Quantitative Strategies LP acquired a new stake in Opus Genetics during the 4th quarter worth $25,000. Comerica Bank acquired a new stake in Opus Genetics during the 1st quarter worth $29,000. Virtu Financial LLC acquired a new stake in Opus Genetics during the 4th quarter worth $34,000. Raymond James Financial Inc. boosted its stake in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics during the 4th quarter worth $40,000. Institutional investors and hedge funds 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.