BTIG Research Forecasts Strong Price Appreciation for Opus Genetics (NASDAQ:IRD) Stock

Opus Genetics (NASDAQ:IRD) had its price target raised by research analysts at BTIG Research from $7.00 to $12.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 188.46% from the stock’s current price.

A number of other analysts have also recently commented on IRD. Lifesci Capital upgraded Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Chardan Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Opus Genetics in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. B. Riley Financial began coverage on shares of Opus Genetics in a report on Wednesday, December 10th. They set a “buy” rating and a $9.00 target price for the company. Finally, Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $8.38.

Opus Genetics Stock Up 15.9%

Shares of Opus Genetics stock opened at $4.16 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $4.17. The company has a market cap of $286.89 million, a price-to-earnings ratio of -2.21 and a beta of 0.58. The company’s 50 day moving average is $2.65 and its 200 day moving average is $2.09.

Insider Transactions at Opus Genetics

In related news, Director Fighting Blindness Foundation sold 4,000,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the completion of the transaction, the director directly owned 5,492,171 shares of the company’s stock, valued at approximately $11,808,167.65. This represents a 42.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cam Gallagher purchased 83,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $1.97 per share, with a total value of $163,510.00. Following the acquisition, the director directly owned 83,000 shares in the company, valued at $163,510. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Opus Genetics

Several large investors have recently bought and sold shares of IRD. Occudo Quantitative Strategies LP purchased a new stake in shares of Opus Genetics in the 4th quarter worth $25,000. Comerica Bank purchased a new stake in Opus Genetics in the first quarter worth about $29,000. Virtu Financial LLC bought a new position in Opus Genetics during the 4th quarter worth about $34,000. Raymond James Financial Inc. increased its position in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new stake in shares of Opus Genetics in the 4th quarter valued at about $40,000. 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.