Opus Genetics (NASDAQ:IRD) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Opus Genetics (NASDAQ:IRD) from a hold rating to a sell rating in a research report report published on Saturday morning.

A number of other equities analysts also recently issued reports on the stock. Wedbush initiated coverage on shares of Opus Genetics in a research note on Wednesday, October 29th. They set an “outperform” rating and a $8.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Finally, Chardan Capital reiterated a “buy” rating and issued a $9.00 price target on shares of Opus Genetics in a report on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.80.

Opus Genetics Stock Performance

Shares of Opus Genetics stock opened at $1.74 on Friday. 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’s fifty day moving average price is $1.84 and its 200-day moving average price is $1.34. The firm has a market cap of $113.11 million, a P/E ratio of -0.91 and a beta of 0.16. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $2.37.

Opus Genetics (NASDAQ:IRD) last released 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. Opus Genetics had a negative net margin of 377.89% and a negative return on equity of 384.33%. The company had revenue of $3.08 million during the quarter, compared to analyst estimates of $3.07 million. On average, equities research analysts expect that Opus Genetics will post -1.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Opus Genetics

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Opus Genetics during the 1st quarter valued at $26,000. Apollon Wealth Management LLC acquired a new stake in Opus Genetics in the first quarter worth about $28,000. Comerica Bank acquired a new stake in Opus Genetics in the first quarter worth about $29,000. Raymond James Financial Inc. grew its stake 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 last quarter. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Opus Genetics during the first quarter valued at about $47,000. 14.97% of the stock is 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.