Opus Genetics (NASDAQ:IRD) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Opus Genetics has been rated with a "sell (D-)" by Weiss Ratings, signaling a negative outlook from analysts.
• The company reported earnings of ($0.12) per share, which was better than the consensus estimate of ($0.25), despite a negative net margin of 377.89%.
• Currently, Opus Genetics has a consensus rating of "Moderate Buy" with an average target price of $7.33 from various analysts.

Opus Genetics (NASDAQ:IRD - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on the company. HC Wainwright reiterated a "buy" rating and issued a $8.00 price objective on shares of Opus Genetics in a research report on Friday, June 27th. Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.33.

Opus Genetics Price Performance

IRD stock opened at $2.05 on Wednesday. The company has a market capitalization of $122.82 million, a P/E ratio of -1.07 and a beta of 0.11. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $2.16. The business has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $1.11. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06.

Opus Genetics (NASDAQ:IRD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.13. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%.The business had revenue of $2.88 million during the quarter, compared to the consensus estimate of $4.27 million. As a group, equities analysts anticipate that Opus Genetics will post -1.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BIOS Capital Management LP increased its position in shares of Opus Genetics by 270.1% in the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company's stock valued at $3,462,000 after buying an additional 2,688,180 shares in the last quarter. Nantahala Capital Management LLC increased its position in shares of Opus Genetics by 6.0% in the second quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company's stock valued at $3,152,000 after buying an additional 188,028 shares in the last quarter. Opaleye Management Inc. increased its position in shares of Opus Genetics by 3.8% in the second quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company's stock valued at $1,149,000 after buying an additional 45,000 shares in the last quarter. Mink Brook Asset Management LLC boosted its stake in shares of Opus Genetics by 47.8% during the second quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company's stock valued at $1,128,000 after acquiring an additional 387,536 shares during the last quarter. Finally, Voss Capital LP boosted its stake in shares of Opus Genetics by 260.8% during the second quarter. Voss Capital LP now owns 541,159 shares of the company's stock valued at $510,000 after acquiring an additional 391,159 shares during the last quarter. Hedge funds and other institutional investors own 14.97% of the company's stock.

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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