Opus Genetics (NASDAQ:IRD) Cut to Sell at Wall Street Zen

Key Points

• Opus Genetics was downgraded by Wall Street Zen from hold to sell, adding to a mixed but still cautious analyst backdrop for the stock.
• The company’s latest earnings disappointed, with EPS of -$0.75 versus expectations of -$0.16 and revenue of $2.16 million versus the $2.93 million estimate.
• Despite some positive analyst coverage elsewhere, the stock was down 3.4% and has also seen insider selling, including transactions by the CFO and CEO over the past few months.

Opus Genetics (NASDAQ:IRD - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

IRD has been the subject of a number of other research reports. Oppenheimer initiated coverage on Opus Genetics in a research report on Monday, March 16th. They set an "outperform" rating and a $10.00 price target for the company. Craig Hallum set a $9.00 price target on Opus Genetics and gave the stock a "buy" rating in a research report on Wednesday, March 11th. Chardan Capital upped their price target on Opus Genetics from $9.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. B. Riley Financial reaffirmed a "buy" rating on shares of Opus Genetics in a research report on Thursday, April 30th. Finally, Citizens Jmp reduced their price target on Opus Genetics from $12.00 to $11.00 and set a "market outperform" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.20.

Opus Genetics Stock Down 3.4%

NASDAQ:IRD opened at $4.80 on Friday. Opus Genetics has a twelve month low of $0.90 and a twelve month high of $5.81. The business has a 50 day moving average price of $4.99 and a two-hundred day moving average price of $3.34. The company has a market cap of $390.72 million, a P/E ratio of -3.61 and a beta of 0.62.

Opus Genetics (NASDAQ:IRD - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.75) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.59). Opus Genetics had a negative return on equity of 709.20% and a negative net margin of 892.36%.The firm had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.93 million. As a group, analysts anticipate that Opus Genetics will post -0.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Robert E. Gagnon sold 7,842 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $5.18, for a total value of $40,621.56. Following the completion of the transaction, the chief financial officer directly owned 592,158 shares of the company's stock, valued at approximately $3,067,378.44. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO George Magrath sold 24,438 shares of the firm's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $5.21, for a total value of $127,321.98. Following the sale, the chief executive officer directly owned 1,750,855 shares of the company's stock, valued at $9,121,954.55. This represents a 1.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 73,395 shares of company stock valued at $382,278 over the last three months. Corporate insiders own 11.70% of the company's stock.

Institutional Investors Weigh In On Opus Genetics

Several hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL lifted its holdings in Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company's stock valued at $55,000 after purchasing an additional 3,000 shares during the last quarter. Raymond James Financial Inc. lifted 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 valued at $37,000 after purchasing an additional 11,000 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in Opus Genetics during the 4th quarter valued at $25,000. Virtu Financial LLC acquired a new stake in Opus Genetics during the 4th quarter valued at $34,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics during the 4th quarter valued at $40,000. Institutional investors and hedge funds own 14.97% of the company's stock.

More Opus Genetics News

Here are the key news stories impacting Opus Genetics this week:

• Positive Sentiment: HC Wainwright raised its estimates for Opus Genetics’ Q2, Q3, and Q4 2026 earnings and improved its FY2027 EPS forecast, suggesting some analyst confidence in the company’s outlook.
• Neutral Sentiment: Several recent articles focused on analyst commentary and an upcoming earnings update, keeping IRD on investors’ radar but not providing any new business or clinical catalysts.
• Negative Sentiment: Zacks Research downgraded Opus Genetics from hold to strong sell, a negative signal that may have added selling pressure on the shares. Zacks Research downgrade
• Negative Sentiment: Citizens JMP lowered its price target on Opus Genetics, reinforcing cautious sentiment around the stock. Price target lowered to $11.00

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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