Brokerages Set Opus Genetics, Inc. (NASDAQ:IRD) PT at $7.80

Opus Genetics, Inc. (NASDAQ:IRD) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $7.80.

IRD has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a report on Wednesday, October 8th. Chardan Capital restated a “buy” rating and set a $9.00 target price on shares of Opus Genetics in a research note on Friday, November 7th. Finally, Wedbush began coverage on shares of Opus Genetics in a report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price for the company.

Hedge Funds Weigh In On Opus Genetics

Several institutional investors and hedge funds have recently made changes to their positions in IRD. Vanguard Group Inc. increased its stake in shares of Opus Genetics by 35.3% during the third quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock worth $2,214,000 after purchasing an additional 349,825 shares during the period. Opaleye Management Inc. increased its position in Opus Genetics by 3.8% during the 2nd quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock worth $1,149,000 after buying an additional 45,000 shares during the period. Mink Brook Asset Management LLC lifted its holdings in shares of Opus Genetics by 47.8% during the second quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock worth $1,128,000 after buying an additional 387,536 shares in the last quarter. Nantahala Capital Management LLC boosted its position in shares of Opus Genetics by 6.0% in the second quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock valued at $3,152,000 after acquiring an additional 188,028 shares during the period. Finally, Voss Capital LP grew its stake in shares of Opus Genetics by 260.8% in the second quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after acquiring an additional 391,159 shares in the last quarter. Institutional investors and hedge funds own 14.97% of the company’s stock.

Opus Genetics Stock Down 2.5%

Opus Genetics stock opened at $1.92 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.90 and a quick ratio of 1.90. The company’s 50-day moving average is $1.81 and its 200-day moving average is $1.32. The firm has a market capitalization of $124.81 million, a PE ratio of -1.00 and a beta of 0.16. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $2.37.

Opus Genetics (NASDAQ:IRD) last issued its earnings results on Friday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter. Opus Genetics had a negative net margin of 377.89% and a negative return on equity of 384.33%. Sell-side analysts anticipate that Opus Genetics will post -1.22 earnings per share for the current 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.