Opus Genetics, Inc. (NASDAQ:IRD) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.80.

A number of brokerages have recently issued reports on IRD. Chardan Capital restated a “buy” rating and issued a $9.00 target price on shares of Opus Genetics in a research note on Thursday. Wall Street Zen cut Opus Genetics from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Finally, Wedbush assumed coverage on Opus Genetics in a report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 price target for the company.

Opus Genetics Stock Performance

Opus Genetics stock opened at $1.88 on Monday. The stock has a market cap of $122.21 million, a P/E ratio of -0.98 and a beta of 0.16. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $1.83 and a 200-day moving average of $1.33. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $2.37.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IRD. AWM Investment Company Inc. bought a new stake in shares of Opus Genetics during the 1st quarter valued at about $515,000. Nantahala Capital Management LLC acquired a new position in Opus Genetics in the first quarter valued at approximately $3,100,000. Mink Brook Asset Management LLC bought a new position in shares of Opus Genetics during the first quarter valued at approximately $795,000. BIOS Capital Management LP acquired a new stake in shares of Opus Genetics during the 1st quarter worth approximately $977,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Opus Genetics during the 1st quarter worth approximately $47,000. 14.97% of the stock is currently owned by institutional investors.

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.