Opus Genetics (NASDAQ:IRD) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research report released on Thursday morning,Benzinga reports. Chardan Capital currently has a $9.00 price objective on the stock.

A number of other equities research analysts have also issued reports on IRD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Wedbush assumed coverage on shares of Opus Genetics in a research note on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.

Opus Genetics Stock Up 1.6%

IRD traded up $0.03 during trading hours on Thursday, hitting $1.88. 382,673 shares of the company’s stock were exchanged, compared to its average volume of 513,375. 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. The firm has a market cap of $122.21 million, a P/E ratio of -0.98 and a beta of 0.16. The firm has a 50 day moving average of $1.83 and a 200 day moving average of $1.33.

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

Institutional Investors Weigh In On Opus Genetics

Several institutional investors have recently added to or reduced their stakes in IRD. Nantahala Capital Management LLC purchased a new position in Opus Genetics in the first quarter valued at approximately $3,100,000. BIOS Capital Management LP boosted its holdings in shares of Opus Genetics by 270.1% in the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after buying an additional 2,688,180 shares in the last quarter. Mink Brook Asset Management LLC acquired a new position in shares of Opus Genetics in the 1st quarter valued at $795,000. AWM Investment Company Inc. purchased a new position in shares of Opus Genetics in the 1st quarter valued at $515,000. Finally, Voss Capital LP raised its stake in Opus Genetics by 260.8% during the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock worth $510,000 after acquiring an additional 391,159 shares in the last quarter. Hedge funds and other institutional investors own 14.97% of the company’s stock.

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.