Opus Genetics (NASDAQ:IRD) Stock Rating Upgraded by Brookline Capital Management

Opus Genetics (NASDAQ:IRD) was upgraded by investment analysts at Brookline Capital Management to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

IRD has been the topic of a number of other reports. Piper Sandler assumed coverage on shares of Opus Genetics in a research note on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price objective on the stock. Wall Street Zen downgraded Opus Genetics from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research note on Wednesday, October 8th. Wedbush started coverage on Opus Genetics in a research report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 price objective for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Opus Genetics in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and an average price target of $7.67.

Opus Genetics Trading Down 6.1%

IRD opened at $2.00 on Monday. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $2.37. The company has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $1.41. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $137.93 million, a price-to-earnings ratio of -1.04 and a beta of 0.16.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Wednesday, November 12th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $3.08 million for the quarter, compared to analyst estimates of $3.07 million. Opus Genetics had a negative net margin of 377.89% and a negative return on equity of 384.33%. Analysts predict that Opus Genetics will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. grew its holdings in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Opus Genetics during the first quarter valued at $26,000. Comerica Bank acquired a new position in shares of Opus Genetics during the first quarter worth $29,000. Two Sigma Investments LP grew its stake in shares of Opus Genetics by 169.6% in the third quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock worth $179,000 after purchasing an additional 68,148 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in Opus Genetics by 496.9% in the third quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock valued at $187,000 after purchasing an additional 94,416 shares during the period. 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.