Opus Genetics (NASDAQ:IRD) Hits New 12-Month High After Analyst Upgrade

Opus Genetics, Inc. (NASDAQ:IRD) hit a new 52-week high on Wednesday after Wedbush raised their price target on the stock from $10.00 to $13.00. Wedbush currently has an outperform rating on the stock. Opus Genetics traded as high as $6.55 and last traded at $6.8370, with a volume of 10921380 shares. The stock had previously closed at $4.34.

IRD has been the topic of several other reports. Guggenheim assumed coverage on shares of Opus Genetics in a report on Thursday, June 4th. They issued a “buy” rating and a $16.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a report on Friday, July 17th. Leerink Partners began coverage on Opus Genetics in a report on Thursday, May 21st. They set an “outperform” rating and a $10.00 target price on the stock. Wall Street Zen raised Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Oppenheimer boosted their price target on Opus Genetics from $10.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and a consensus price target of $11.92.

Insider Activity at Opus Genetics

In other news, CFO Robert E. Gagnon sold 28,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the sale, the chief financial officer owned 556,375 shares of the company’s stock, valued at $2,525,942.50. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO George Magrath sold 9,475 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total transaction of $27,951.25. Following the completion of the transaction, the chief executive officer directly owned 1,731,869 shares in the company, valued at approximately $5,109,013.55. This represents a 0.54% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 57,331 shares of company stock valued at $213,749. Corporate insiders own 11.70% of the company’s stock.

Opus Genetics News Roundup

Here are the key news stories impacting Opus Genetics this week:

• Positive Sentiment: Encouraging gene-therapy results: Opus reported positive three- and six-month results from the low-dose cohort of its Phase 1/2 OPGx-BEST1 trial for inherited retinal disease. All five participants showed clinically meaningful visual-function improvement, while no serious adverse events or dose-limiting toxicities were observed. Opus Genetics Announces Positive Low Dose Cohort 1 Data
• Positive Sentiment: Path toward pivotal testing: Following an FDA Type C meeting, regulators aligned with a potential pivotal endpoint involving retinal sensitivity and patient-reported outcomes. Opus expects to complete second-cohort dosing in the fourth quarter of 2026 and potentially begin Phase 3 dosing in 2027. Management also said its cash runway extends into 2029, reducing near-term financing risk. Opus Genetics Reports Positive OPGx-BEST1 Data
• Positive Sentiment: Analyst support increased: Wedbush raised its price target to $13 from $10 and maintained an “outperform” rating. Oppenheimer raised its target to $20 from $10, while BTIG, Chardan Capital and HC Wainwright reaffirmed bullish ratings with targets ranging from $8 to $13. These targets imply substantial potential upside, although they remain dependent on clinical execution.
• Positive Sentiment: Options activity signals optimism: Traders purchased 4,820 call options, approximately 681% above typical volume, suggesting increased speculative interest in further gains.
• Neutral Sentiment: Analyst views are not unanimous: Coverage remains broadly bullish, but some analysts hold more cautious ratings, making the overall outlook supportive but mixed. Analysts’ Opinions Are Mixed on Opus Genetics
• Negative Sentiment: Insider sale: CFO Robert Gagnon sold 28,000 shares worth about $127,120 to cover tax withholding tied to equity vesting. The transaction was relatively small and attributed to taxes, but could still be viewed as a modest negative signal.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Trails Edge Capital Partners LP bought a new position in shares of Opus Genetics in the second quarter valued at approximately $11,276,434. BlackRock Inc. bought a new stake in Opus Genetics during the second quarter worth approximately $12,809,000. ADAR1 Capital Management LLC bought a new stake in Opus Genetics during the second quarter worth approximately $7,331,000. Nantahala Capital Management LLC acquired a new stake in Opus Genetics in the second quarter worth approximately $12,582,185. Finally, AWM Investment Company Inc. acquired a new stake in Opus Genetics in the second quarter worth approximately $956,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Opus Genetics Stock Performance

The business has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $4.32. The stock has a market capitalization of $501.69 million, a P/E ratio of -4.50 and a beta of 0.58.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $0.76 million for the quarter, compared to the consensus estimate of $2.63 million. Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 1,091.82%. Equities research analysts forecast that Opus Genetics, Inc. will post -0.99 EPS for the current fiscal year.

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.