Opus Genetics (NASDAQ:IRD) Coverage Initiated at Piper Sandler

Equities research analysts at Piper Sandler assumed coverage on shares of Opus Genetics (NASDAQ:IRD) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $7.00 price target on the stock. Piper Sandler’s target price suggests a potential upside of 253.54% from the stock’s current price.

IRD has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Opus Genetics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Chardan Capital reiterated a “buy” rating and set a $9.00 price target on shares of Opus Genetics in a report on Thursday, November 13th. Finally, Wedbush assumed coverage on Opus Genetics in a research report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Opus Genetics currently has an average rating of “Moderate Buy” and an average price target of $7.67.

Opus Genetics Trading Down 1.0%

NASDAQ IRD opened at $1.98 on Tuesday. The firm has a market capitalization of $136.55 million, a PE ratio of -1.03 and a beta of 0.16. The business’s 50-day moving average price is $1.91 and its two-hundred day moving average price is $1.38. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $2.37.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%.The company had revenue of $3.08 million for the quarter, compared to analyst estimates of $3.07 million. On average, analysts expect that Opus Genetics will post -1.22 EPS for the current year.

Hedge Funds Weigh In On Opus Genetics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC bought a new stake in Opus Genetics in the 1st quarter valued at about $47,000. Virtu Financial LLC acquired a new stake in Opus Genetics in the first quarter valued at approximately $26,000. Voss Capital LP acquired a new stake in Opus Genetics in the first quarter valued at approximately $147,000. Mink Brook Asset Management LLC acquired a new position in shares of Opus Genetics during the first quarter worth approximately $795,000. Finally, Comerica Bank acquired a new position in shares of Opus Genetics during the first quarter worth approximately $29,000. Institutional investors 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.