Opus Genetics (NASDAQ:IRD) Coverage Initiated by Analysts at Wedbush

Wedbush started coverage on shares of Opus Genetics (NASDAQ:IRD) in a research note published on Wednesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $8.00 price target on the stock.

A number of other research analysts have also commented on IRD. Chardan Capital initiated coverage on shares of Opus Genetics in a research note on Thursday, October 16th. They issued a “buy” rating and a $9.00 price target on the stock. Wall Street Zen upgraded shares of Opus Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $7.80.

Opus Genetics Stock Up 2.6%

Opus Genetics stock opened at $1.98 on Wednesday. The firm has a market capitalization of $118.62 million, a PE ratio of -1.03 and a beta of 0.11. The company’s 50-day moving average is $1.64 and its 200-day moving average is $1.23. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $2.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.90 and a quick ratio of 1.90.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Friday, May 7th. The company reported ($0.47) earnings per share for the quarter. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%. Sell-side analysts anticipate that Opus Genetics will post -1.22 earnings per share for the current year.

Institutional Trading of Opus Genetics

A number of institutional investors have recently bought and sold shares of the business. Opaleye Management Inc. boosted its holdings in Opus Genetics by 3.8% in the 2nd quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock valued at $1,149,000 after purchasing an additional 45,000 shares during the period. Mink Brook Asset Management LLC boosted its holdings in Opus Genetics by 47.8% in the 2nd quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock valued at $1,128,000 after purchasing an additional 387,536 shares during the period. Nantahala Capital Management LLC boosted its holdings in Opus Genetics by 6.0% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock valued at $3,152,000 after purchasing an additional 188,028 shares during the period. Voss Capital LP boosted its holdings in Opus Genetics by 260.8% in the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after purchasing an additional 391,159 shares during the period. Finally, BIOS Capital Management LP boosted its holdings in Opus Genetics by 270.1% in the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after purchasing an additional 2,688,180 shares during the period. Institutional investors 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.