Opus Genetics (NASDAQ:IRD) Downgraded to "Sell" Rating by Wall Street Zen

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

A number of other research firms have also weighed in on IRD. HC Wainwright reissued a "buy" rating and issued a $8.00 target price on shares of Opus Genetics in a research note on Friday. Craig Hallum assumed coverage on shares of Opus Genetics in a research note on Friday, April 11th. They issued a "buy" rating and a $6.00 target price on the stock. Finally, Jones Trading decreased their target price on shares of Opus Genetics from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st.

Opus Genetics Price Performance

IRD stock traded down $0.04 during trading on Friday, hitting $0.98. The stock had a trading volume of 783,289 shares, compared to its average volume of 528,609. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $1.75. The stock has a market capitalization of $58.26 million and a P/E ratio of -0.47. The company's 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.02.

Opus Genetics (NASDAQ:IRD - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.30 million for the quarter, compared to analysts' expectations of $4.00 million. As a group, sell-side analysts expect that Opus Genetics will post -1.22 EPS for the current fiscal year.

Institutional Trading of Opus Genetics

Several institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. purchased a new stake in shares of Opus Genetics during the 1st quarter valued at approximately $515,000. Nantahala Capital Management LLC purchased a new stake in Opus Genetics in the first quarter valued at approximately $3,100,000. Royal Bank of Canada purchased a new stake in Opus Genetics in the first quarter valued at approximately $299,000. BIOS Capital Management LP purchased a new stake in Opus Genetics in the first quarter valued at approximately $977,000. Finally, Comerica Bank purchased a new stake in Opus Genetics in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 14.97% of the company's stock.

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.