Chardan Capital Issues Positive Forecast for Opus Genetics (NASDAQ:IRD) Stock Price

Opus Genetics (NASDAQ:IRD) had its price objective increased by analysts at Chardan Capital from $9.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s price objective indicates a potential upside of 119.56% from the company’s current price.

A number of other analysts have also commented on IRD. Lifesci Capital raised shares of Opus Genetics to a “strong-buy” rating in a report on Thursday, February 12th. Wedbush increased their price target on Opus Genetics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday. BTIG Research raised their price target on Opus Genetics from $7.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. Finally, Brookline Capital Acquisition upgraded Opus Genetics to a “strong-buy” rating in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $9.25.

Opus Genetics Trading Up 3.3%

IRD opened at $5.01 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $345.49 million, a price-to-earnings ratio of -6.11 and a beta of 0.45. The firm has a 50 day simple moving average of $3.07 and a 200 day simple moving average of $2.28. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $5.30.

Insider Activity at Opus Genetics

In other Opus Genetics news, Director Cam Gallagher acquired 83,000 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were acquired at an average price of $1.97 per share, for a total transaction of $163,510.00. Following the acquisition, the director directly owned 83,000 shares of the company’s stock, valued at approximately $163,510. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Opus Genetics

Several hedge funds have recently bought and sold shares of IRD. Occudo Quantitative Strategies LP bought a new position in Opus Genetics in the fourth quarter valued at approximately $25,000. Virtu Financial LLC bought a new stake in shares of Opus Genetics during the fourth quarter worth $34,000. Johnson Investment Counsel Inc. acquired a new stake in shares of Opus Genetics during the fourth quarter worth $40,000. Raymond James Financial Inc. raised its holdings in shares of Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares during the period. Finally, Blair William & Co. IL lifted its position in Opus Genetics by 12.3% in the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares in the last quarter. 14.97% of the stock is currently owned by institutional investors and hedge funds.

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.