Analysts Issue Forecasts for Opus Genetics FY2029 Earnings

Key Points

• HC Wainwright raised its FY2029 EPS forecast for Opus Genetics to $0.08 from $0.05, maintaining a Buy rating and $14 price target. Analysts’ consensus rating is Moderate Buy, with a $13.29 average price target.
• Opus reported a quarterly loss of $0.46 per share, worse than the $0.15 loss analysts expected, while revenue of $1.14 million also fell short of the $1.55 million consensus.
• Shares opened at $4.31; company insiders sold about 674,000 shares worth $3.2 million over the past 90 days. Institutional investors own about 15% of the stock.

Opus Genetics, Inc. (NASDAQ:IRD - Free Report) - Stock analysts at HC Wainwright raised their FY2029 EPS estimates for shares of Opus Genetics in a report issued on Wednesday, November 11th. HC Wainwright analyst M. Caufield now anticipates that the company will post earnings per share of $0.08 for the year, up from their previous estimate of $0.05. HC Wainwright has a "Buy" rating and a $14.00 price objective on the stock. The consensus estimate for Opus Genetics' current full-year earnings is ($0.97) per share.

Other equities research analysts also recently issued research reports about the company. JonesTrading boosted their price target on Opus Genetics from $10.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. Wedbush raised their price objective on Opus Genetics from $10.00 to $13.00 and gave the stock an "outperform" rating in a report on Thursday, September 10th. Chardan Capital reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Opus Genetics in a research note on Thursday, October 22nd. TD Cowen began coverage on Opus Genetics in a report on Wednesday, July 29th. They set a "buy" rating for the company. Finally, Zacks Research upgraded Opus Genetics from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.29.

Opus Genetics Price Performance

Shares of NASDAQ:IRD opened at $4.31 on Thursday. Opus Genetics has a 12-month low of $1.70 and a 12-month high of $7.07. The stock's 50-day moving average price is $4.51 and its two-hundred day moving average price is $4.23.

Opus Genetics (NASDAQ:IRD - Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.31). The business had revenue of $1.14 million for the quarter, compared to the consensus estimate of $1.55 million.

Insider Activity

In other news, CFO Robert E. Gagnon sold 28,000 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the sale, the chief financial officer directly owned 556,375 shares in the company, valued at $2,525,942.50. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Opus Genetics stock in a transaction dated 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 sale, the director directly owned 3,236,171 shares in the company, valued at approximately $16,051,408.16. The trade was a 14.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 673,805 shares of company stock worth $3,213,582. 11.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Opus Genetics during the 2nd quarter valued at approximately $12,809,000. Nantahala Capital Management LLC acquired a new position in shares of Opus Genetics in the 2nd quarter valued at approximately $12,582,185. Trails Edge Capital Partners LP acquired a new position in shares of Opus Genetics in the 2nd quarter valued at approximately $11,276,434. ADAR1 Capital Management LLC boosted its stake in shares of Opus Genetics by 4,522.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company's stock valued at $8,413,000 after buying an additional 1,809,004 shares during the last quarter. Finally, Opaleye Management Inc. boosted its stake in shares of Opus Genetics by 0.4% during the 2nd quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company's stock valued at $4,624,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 14.97% of the company's stock.

Opus Genetics Company Profile

Opus Genetics, Inc. is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, rare conditions that can cause progressive vision loss. Its programs target specific genetic causes of these disorders, including mutations associated with Leber congenital amaurosis and retinitis pigmentosa. The company's therapies are investigational and are designed to address the underlying genetic defects rather than only manage symptoms. Opus Genetics was formed through the combination of Opus Genetics and Ocuphire Pharma; the combined company took the Opus Genetics name and began trading on Nasdaq under the symbol IRD in 2024.

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