Wall Street Zen Upgrades Opus Genetics (NASDAQ:IRD) to "Hold"

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

IRD has been the subject of several other research reports. 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 target price for the company. Jones Trading cut their price objective on shares of Opus Genetics from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $8.00 target price on shares of Opus Genetics in a research report on Friday, June 27th.

Opus Genetics Stock Up 0.9%

Shares of NASDAQ IRD traded up $0.01 during midday trading on Friday, hitting $1.13. 190,833 shares of the company's stock were exchanged, compared to its average volume of 517,208. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $1.75. The company's 50 day moving average price is $0.99 and its 200 day moving average price is $1.02. The firm has a market capitalization of $67.42 million, a PE ratio of -0.54 and a beta of -0.02.

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

Hedge Funds Weigh In On Opus Genetics

Institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in Opus Genetics in the 1st quarter worth about $26,000. Apollon Wealth Management LLC acquired a new stake in shares of Opus Genetics in the first quarter valued at approximately $28,000. Comerica Bank acquired a new stake in shares of Opus Genetics in the first quarter valued at approximately $29,000. Kestra Private Wealth Services LLC bought a new stake in shares of Opus Genetics in the first quarter valued at approximately $47,000. Finally, Voss Capital LP acquired a new stake in Opus Genetics during the first quarter worth approximately $147,000. 14.97% of the stock is currently owned by institutional investors and hedge funds.

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.