Opus Genetics (IRD) to Release Earnings on Monday

Key Points

• Opus Genetics will report results before the market opens on Monday, March 30; analysts expect an EPS loss of ($0.10) and revenue of $3.35 million for the quarter.
• The stock opened around $4.39 with a market cap near $312 million, and Wall Street has a Moderate Buy consensus with an average price target of $9.33, implying notable upside from current levels.
• Insiders have been active: CEO George Magrath sold 24,438 shares at about $5.21, while Director Cam Gallagher acquired 83,000 shares at $1.97; insiders own roughly 6.60% of the company.

Opus Genetics (NASDAQ:IRD - Get Free Report) is expected to be announcing its results before the market opens on Monday, March 30th. Analysts expect the company to announce earnings of ($0.10) per share and revenue of $3.35 million for the quarter.

Opus Genetics Stock Performance

NASDAQ IRD opened at $4.39 on Monday. The stock's fifty day moving average is $3.46 and its two-hundred day moving average is $2.46. The firm has a market capitalization of $312.35 million, a P/E ratio of -5.35 and a beta of 0.44. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $5.30.

Insiders Place Their Bets

In other news, CEO George Magrath sold 24,438 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $5.21, for a total transaction of $127,321.98. Following the completion of the transaction, the chief executive officer directly owned 1,750,855 shares in the company, valued at approximately $9,121,954.55. This represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cam Gallagher acquired 83,000 shares of the business's stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $1.97 per share, with a total value of $163,510.00. Following the completion of the transaction, the director directly owned 83,000 shares in the company, valued at approximately $163,510. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 34,692 shares of company stock valued at $180,672. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blair William & Co. IL increased its position in shares of Opus Genetics by 12.3% during the fourth quarter. Blair William & Co. IL now owns 27,466 shares of the company's stock valued at $55,000 after acquiring an additional 3,000 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Opus Genetics by 95.6% in the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company's stock valued at $37,000 after acquiring an additional 11,000 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of Opus Genetics in the 4th quarter worth approximately $25,000. Virtu Financial LLC acquired a new position in shares of Opus Genetics in the 4th quarter worth approximately $34,000. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of Opus Genetics during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 14.97% of the company's stock.

Wall Street Analyst Weigh In

IRD has been the topic of several analyst reports. B. Riley Financial started coverage on Opus Genetics in a report on Wednesday, December 10th. They set a "buy" rating and a $9.00 price target on the stock. Wedbush boosted their target price on shares of Opus Genetics from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Thursday, March 12th. Craig Hallum set a $9.00 price target on shares of Opus Genetics and gave the company a "buy" rating in a research note on Wednesday, March 11th. Chardan Capital raised their price target on shares of Opus Genetics from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Thursday, March 12th. Finally, Lifesci Capital upgraded shares of Opus Genetics to a "strong-buy" rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Opus Genetics presently has a consensus rating of "Moderate Buy" and an average target price of $9.33.

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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