Opus Genetics, Inc. (NASDAQ:IRD) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Opus Genetics, Inc. (NASDAQ:IRD) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.92.

A number of research firms have recently weighed in on IRD. Citizens Jmp reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Opus Genetics in a research report on Monday, June 15th. Oppenheimer upped their price objective on shares of Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, September 9th. TD Cowen began coverage on shares of Opus Genetics in a research note on Wednesday, July 29th. They set a “buy” rating for the company. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Opus Genetics in a report on Wednesday, September 9th. Finally, BTIG Research reissued a “buy” rating and issued a $12.00 price target on shares of Opus Genetics in a research report on Wednesday, September 9th.

Opus Genetics Stock Performance

IRD stock opened at $4.38 on Thursday. Opus Genetics has a fifty-two week low of $1.70 and a fifty-two week high of $7.07. The company has a market capitalization of $362.00 million, a price-to-earnings ratio of -3.24 and a beta of 0.62. The business’s 50 day moving average price is $4.39 and its two-hundred day moving average price is $4.40.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.76 million for the quarter, compared to the consensus estimate of $2.63 million. Sell-side analysts forecast that Opus Genetics will post -0.99 earnings per share for the current year.

Insider Buying and Selling at Opus Genetics

In other Opus Genetics news, CEO George Magrath sold 9,475 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total value of $27,951.25. Following the sale, the chief executive officer directly owned 1,731,869 shares of the company’s stock, valued at approximately $5,109,013.55. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 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 approximately $16,051,408.16. This represents a 14.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 613,331 shares of company stock worth $2,971,509. 11.70% of the stock is owned by insiders.

Institutional Trading of Opus Genetics

Institutional investors and hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC purchased a new stake in shares of Opus Genetics during the second quarter valued at $1,360,000. BlackRock Inc. bought a new position in Opus Genetics during the second quarter valued at approximately $12,809,000. Trails Edge Capital Partners LP purchased a new stake in Opus Genetics in the second quarter worth approximately $11,276,434. ADAR1 Capital Management LLC purchased a new stake in Opus Genetics in the second quarter worth approximately $7,331,000. Finally, Nantahala Capital Management LLC bought a new stake in Opus Genetics in the 2nd quarter worth approximately $12,582,185. 14.97% of the stock is currently owned by institutional investors.

Opus Genetics Company Profile

Opus Genetics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, a group of rare disorders that can cause progressive vision loss and blindness. The company’s research is centered on therapies intended to address the underlying genetic causes of these conditions rather than treating only their symptoms.

Opus Genetics is advancing an investigational pipeline of adeno-associated virus-based gene therapy candidates for diseases involving mutations in genes important to retinal function.