Opus Genetics’ (IRD) Buy Rating Reiterated at Chardan Capital

Opus Genetics (NASDAQ:IRD)‘s stock had its “buy” rating reiterated by research analysts at Chardan Capital in a research note issued to investors on Friday,Benzinga reports. They currently have a $9.00 price target on the stock. Chardan Capital’s price objective points to a potential upside of 367.53% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Finally, 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 target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.80.

Opus Genetics Trading Down 5.2%

NASDAQ IRD traded down $0.11 on Friday, hitting $1.93. 203,724 shares of the stock were exchanged, compared to its average volume of 510,523. The firm has a market capitalization of $115.32 million, a P/E ratio of -1.00 and a beta of 0.16. Opus Genetics has a 52-week low of $0.65 and a 52-week high of $2.37. The stock has a fifty day moving average price of $1.75 and a two-hundred day moving average price of $1.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.90 and a current ratio of 1.90.

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

Hedge Funds Weigh In On Opus Genetics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Opus Genetics during the 1st quarter worth $26,000. Apollon Wealth Management LLC acquired a new stake in Opus Genetics during the first quarter worth about $28,000. Comerica Bank bought a new position in Opus Genetics in the 1st quarter worth about $29,000. Kestra Private Wealth Services LLC bought a new position in shares of Opus Genetics in the first quarter worth $47,000. Finally, Voss Capital LP acquired a new stake in Opus Genetics in the first quarter worth approximately $147,000. Institutional investors and hedge funds 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.