Opus Genetics, Inc. (NASDAQ:IRD) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Opus Genetics, Inc. (NASDAQ:IRD) has received a consensus rating of "Moderate Buy" from five research firms, with one analyst recommending a sell and four recommending a buy.
• The average 1-year price target for Opus Genetics stock is $7.75, with ratings ranging from $8.00 to $9.00 from different analysts.
• Shares of Opus Genetics opened at $2.00 and the company's market capitalization stands at approximately $119.82 million, with a one-year price range between $0.65 and $2.16.

Shares of Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.75.

A number of equities analysts have weighed in on IRD shares. Weiss Ratings restated a "sell (d-)" rating on shares of Opus Genetics in a report on Wednesday, October 8th. Chardan Capital assumed coverage on Opus Genetics in a research report on Thursday. They set a "buy" rating and a $9.00 price target on the stock. Wall Street Zen raised Opus Genetics from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Opus Genetics in a report on Friday, June 27th.

Hedge Funds Weigh In On Opus Genetics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Apollon Wealth Management LLC purchased a new stake in Opus Genetics in the 1st quarter worth about $28,000. Kestra Private Wealth Services LLC acquired a new position in Opus Genetics during the first quarter valued at approximately $47,000. Virtu Financial LLC bought a new position in Opus Genetics in the 1st quarter worth approximately $26,000. Voss Capital LP bought a new position in Opus Genetics in the 1st quarter worth approximately $147,000. Finally, Mink Brook Asset Management LLC acquired a new stake in shares of Opus Genetics during the 1st quarter worth approximately $795,000. Institutional investors and hedge funds own 14.97% of the company's stock.

Opus Genetics Price Performance

Shares of NASDAQ IRD opened at $2.00 on Thursday. The firm has a market capitalization of $119.82 million, a P/E ratio of -1.04 and a beta of 0.11. Opus Genetics has a one year low of $0.65 and a one year high of $2.16. The company's fifty day moving average is $1.47 and its two-hundred day moving average is $1.14. 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 - Get Free Report) last announced 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%. Analysts forecast that Opus Genetics will post -1.22 EPS for the current fiscal 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.

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