FY2029 EPS Estimate for Opus Genetics Boosted by Analyst

Opus Genetics, Inc. (NASDAQ:IRD) – Investment analysts at HC Wainwright increased their FY2029 EPS estimates for shares of Opus Genetics in a research note issued on Wednesday, November 11th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings per share of $0.08 for the year, up from their previous forecast of $0.05. HC Wainwright has a “Buy” rating and a $14.00 price objective on the stock. The consensus estimate for Opus Genetics’ current full-year earnings is ($0.97) per share.

Opus Genetics (NASDAQ:IRD) last issued its earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.31). The firm had revenue of $1.14 million for the quarter, compared to analyst estimates of $1.55 million.

Other analysts have also issued reports about the company. Chardan Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Opus Genetics in a report on Thursday, October 22nd. BTIG Research reaffirmed a “buy” rating and set a $12.00 target price on shares of Opus Genetics in a report on Wednesday, September 9th. TD Cowen assumed coverage on Opus Genetics in a report on Wednesday, July 29th. They set a “buy” rating on the stock. Wall Street Zen lowered Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Finally, Zacks Research upgraded Opus Genetics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.29.

Opus Genetics Stock Up 1.9%

Shares of IRD stock opened at $4.31 on Thursday. Opus Genetics has a one year low of $1.70 and a one year high of $7.07. The company’s 50-day simple moving average is $4.51 and its 200-day simple moving average is $4.23.

Insider Transactions at Opus Genetics

In other news, CFO Robert Gagnon sold 28,000 shares of Opus Genetics stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total transaction of $127,120.00. Following the transaction, the chief financial officer directly owned 556,375 shares in the company, valued at approximately $2,525,942.50. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Fighting Blindness Foundation sold 556,000 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $4.96, for a total value of $2,757,760.00. Following the completion of the sale, the director directly owned 3,236,171 shares in the company, valued at $16,051,408.16. This represents a 14.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 673,805 shares of company stock valued at $3,213,582 in the last quarter. Company insiders own 11.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IRD. Stoneridge Investment Partners LLC acquired a new position in Opus Genetics during the second quarter worth about $47,000. Engineers Gate Manager LP acquired a new stake in Opus Genetics in the 2nd quarter valued at about $50,000. Sanders Morris Harris LLC acquired a new stake in Opus Genetics in the 3rd quarter valued at about $58,000. StoneRidge PMG Advisors LLC acquired a new stake in Opus Genetics in the 3rd quarter valued at about $61,000. Finally, State of Wyoming acquired a new stake in Opus Genetics in the 2nd quarter valued at about $65,000. Institutional investors own 14.97% of the company’s stock.

About Opus Genetics

Opus Genetics, Inc. is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, rare conditions that can cause progressive vision loss. Its programs target specific genetic causes of these disorders, including mutations associated with Leber congenital amaurosis and retinitis pigmentosa. The company’s therapies are investigational and are designed to address the underlying genetic defects rather than only manage symptoms. Opus Genetics was formed through the combination of Opus Genetics and Ocuphire Pharma; the combined company took the Opus Genetics name and began trading on Nasdaq under the symbol IRD in 2024.