Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) rose 1% during trading on Thursday . The stock traded as high as $1.05 and last traded at $1.00. Approximately 752,182 shares traded hands during mid-day trading, an increase of 54% from the average daily volume of 487,457 shares. The stock had previously closed at $0.99.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of Opus Genetics in a research report on Tuesday, April 1st. Wall Street Zen upgraded shares of Opus Genetics from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Craig Hallum initiated coverage on Opus Genetics in a research report on Friday, April 11th. They set a "buy" rating and a $6.00 price objective for the company. Finally, Jones Trading decreased their target price on shares of Opus Genetics from $9.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday, April 1st.
Read Our Latest Stock Report on Opus Genetics
Opus Genetics Price Performance
The stock has a market capitalization of $62.05 million, a price-to-earnings ratio of -0.95 and a beta of 0.06. The stock's 50 day simple moving average is $0.91 and its 200-day simple moving average is $1.04.
Opus Genetics (NASDAQ:IRD - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.02. The firm had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.00 million. Opus Genetics had a negative net margin of 324.45% and a negative return on equity of 63.65%. As a group, equities research analysts anticipate that Opus Genetics, Inc. will post -1.22 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Apollon Wealth Management LLC bought a new position in Opus Genetics in the 1st quarter valued at $28,000. Kestra Private Wealth Services LLC acquired a new position in shares of Opus Genetics in the first quarter valued at approximately $47,000. Virtu Financial LLC acquired a new position in shares of Opus Genetics in the first quarter valued at approximately $26,000. Voss Capital LP bought a new stake in shares of Opus Genetics during the first quarter worth $147,000. Finally, Mink Brook Asset Management LLC acquired a new stake in shares of Opus Genetics during the first quarter worth $795,000. 14.97% of the stock is currently owned by institutional investors and hedge funds.
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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