Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report)'s share price traded up 1% during mid-day trading on Thursday . The stock traded as high as $1.05 and last traded at $1.00. 752,182 shares changed hands during mid-day trading, an increase of 54% from the average session volume of 487,457 shares. The stock had previously closed at $0.99.
Analysts Set New Price Targets
Several analysts have weighed in on IRD shares. Wall Street Zen raised Opus Genetics from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and set a $8.00 price target on shares of Opus Genetics in a research note on Tuesday, April 1st. Jones Trading cut their price objective on shares of Opus Genetics from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Finally, 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.
Get Our Latest Stock Report on Opus Genetics
Opus Genetics Stock Up 1.0%
The stock's fifty day moving average is $0.91 and its 200-day moving average is $1.04. The stock has a market cap of $62.64 million, a price-to-earnings ratio of -0.96 and a beta of 0.06.
Opus Genetics (NASDAQ:IRD - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.02. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The business had revenue of $4.30 million for the quarter, compared to analysts' expectations of $4.00 million. As a group, equities research analysts predict that Opus Genetics, Inc. will post -1.22 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Opus Genetics
Several large investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC acquired a new stake in shares of Opus Genetics in the 1st quarter valued at about $3,100,000. BIOS Capital Management LP bought a new position in shares of Opus Genetics during the first quarter worth about $977,000. Mink Brook Asset Management LLC bought a new stake in Opus Genetics in the 1st quarter valued at approximately $795,000. AWM Investment Company Inc. acquired a new position in Opus Genetics during the 1st quarter worth approximately $515,000. Finally, Royal Bank of Canada acquired a new position in Opus Genetics during the 1st quarter worth approximately $299,000. Institutional investors own 14.97% of the company's stock.
About Opus Genetics
(
Get Free Report)
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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