Opus Genetics (NASDAQ:IRD) Earns Market Outperform Rating from Citizens Jmp

Opus Genetics (NASDAQ:IRD)‘s stock had its “market outperform” rating reiterated by equities researchers at Citizens Jmp in a note issued to investors on Monday,Benzinga reports. They presently have a $11.00 target price on the stock. Citizens Jmp’s target price would suggest a potential upside of 171.94% from the stock’s current price.

A number of other analysts have also recently commented on IRD. Leerink Partners started coverage on Opus Genetics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $10.00 price target on the stock. Cantor Fitzgerald started coverage on Opus Genetics in a research report on Monday, March 30th. They set an “overweight” rating and a $15.00 price objective for the company. Guggenheim started coverage on Opus Genetics in a report on Thursday, June 4th. They issued a “buy” rating and a $16.00 target price on the stock. Chardan Capital increased their target price on Opus Genetics from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Opus Genetics in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and an average price target of $10.67.

Opus Genetics Price Performance

NASDAQ IRD traded up $0.01 during trading hours on Monday, reaching $4.05. 80,154 shares of the company’s stock traded hands, compared to its average volume of 893,069. Opus Genetics has a 52-week low of $0.90 and a 52-week high of $5.81. The firm has a market cap of $334.00 million, a PE ratio of -3.04 and a beta of 0.56. The firm has a 50-day simple moving average of $4.78 and a 200 day simple moving average of $3.66.

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

Insider Activity at Opus Genetics

In other Opus Genetics news, President Benjamin R. Yerxa sold 7,470 shares of Opus Genetics stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.24, for a total value of $39,142.80. Following the completion of the sale, the president owned 711,535 shares of the company’s stock, valued at approximately $3,728,443.40. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO George Magrath sold 9,511 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.22, for a total value of $49,647.42. Following the completion of the transaction, the chief executive officer owned 1,741,344 shares of the company’s stock, valued at $9,089,815.68. This represents a 0.54% decrease in their position. The SEC filing for this sale provides additional information. 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 valued at $7,596,606 over the last ninety days. Corporate insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

Several large investors have recently bought and sold shares of IRD. Occudo Quantitative Strategies LP bought a new position in Opus Genetics during the 4th quarter valued at about $25,000. Comerica Bank bought a new stake in shares of Opus Genetics in the first quarter worth approximately $29,000. Virtu Financial LLC bought a new stake in shares of Opus Genetics in the fourth quarter worth approximately $34,000. 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 valued at $37,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of Opus Genetics during the fourth quarter valued at approximately $40,000. 14.97% of the stock is currently owned by institutional investors.

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.