Wall Street Zen Upgrades Opus Genetics (NASDAQ:IRD) to Hold

Opus Genetics (NASDAQ:IRD) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other brokerages also recently issued reports on IRD. Lifesci Capital upgraded Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a report on Monday, December 1st. BTIG Research reiterated a “buy” rating and set a $7.00 price target on shares of Opus Genetics in a report on Wednesday, January 28th. Piper Sandler started coverage on shares of Opus Genetics in a research report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price objective on the stock. Finally, Chardan Capital restated a “buy” rating and set a $9.00 target price on shares of Opus Genetics in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $8.38.

Opus Genetics Trading Up 4.1%

Shares of IRD stock opened at $4.33 on Friday. The company has a market cap of $298.60 million, a PE ratio of -2.30 and a beta of 0.44. Opus Genetics has a 1 year low of $0.65 and a 1 year high of $4.42. The stock’s 50 day simple moving average is $2.69 and its two-hundred day simple moving average is $2.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23.

Insider Buying and Selling

In other news, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the completion of the sale, the director owned 5,492,171 shares of the company’s stock, valued at approximately $11,808,167.65. The trade was a 42.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cam Gallagher purchased 83,000 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $1.97 per share, with a total value of $163,510.00. Following the acquisition, the director directly owned 83,000 shares of the company’s stock, valued at $163,510. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Opus Genetics

A number of large investors have recently bought and sold shares of the business. Blair William & Co. IL increased its holdings in shares of Opus Genetics by 12.3% in the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares during the period. Raymond James Financial Inc. boosted its position in Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Opus Genetics during the fourth quarter valued at about $25,000. Virtu Financial LLC bought a new stake in Opus Genetics during the fourth quarter valued at about $34,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Opus Genetics in the fourth quarter valued at about $40,000. Institutional investors own 14.97% of the company’s stock.

Opus Genetics Company Profile

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.