HC Wainwright Reiterates Buy Rating for Opus Genetics (NASDAQ:IRD)

Opus Genetics (NASDAQ:IRD - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $8.00 price target on the stock.

IRD has been the topic of a number of other reports. Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Jones Trading lowered their price objective on shares of Opus Genetics from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, Craig Hallum assumed coverage on shares of Opus Genetics in a report on Friday, April 11th. They set a "buy" rating and a $6.00 price objective for the company.

Opus Genetics Stock Up 5.1%

Shares of Opus Genetics stock opened at $1.02 on Friday. The stock has a market cap of $60.85 million and a price-to-earnings ratio of -0.49. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $1.75. The company's fifty day moving average is $0.95 and its 200 day moving average is $1.02.

Opus Genetics (NASDAQ:IRD - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.02. Opus Genetics had a negative net margin of 429.42% and a negative return on equity of 283.28%. The company had revenue of $4.30 million for the quarter, compared to analyst estimates of $4.00 million. As a group, equities analysts anticipate that Opus Genetics will post -1.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IRD. Virtu Financial LLC purchased a new stake in Opus Genetics in the first quarter worth approximately $26,000. Apollon Wealth Management LLC purchased a new position in Opus Genetics in the 1st quarter worth $28,000. Comerica Bank bought a new stake in Opus Genetics in the first quarter worth $29,000. Kestra Private Wealth Services LLC purchased a new stake in Opus Genetics during the first quarter valued at about $47,000. Finally, Voss Capital LP bought a new position in shares of Opus Genetics during the first quarter valued at about $147,000. 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.

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