Opus Genetics (NASDAQ:IRD) Trading Up 4.4% - Should You Buy?

Key Points

• Opus Genetics Inc. shares rose 4.4% to trade at $1.88, showing a decline in trading volume compared to the average.
• The company received mixed analyst ratings, with three analysts issuing a Buy rating and one a Sell rating, and a consensus target price of $7.33.
• Opus Genetics reported a quarterly earnings of ($0.12) per share, exceeding the consensus estimate, despite having a negative net margin of 377.89%.

Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) shares shot up 4.4% during trading on Friday . The stock traded as high as $1.92 and last traded at $1.88. 344,059 shares were traded during trading, a decline of 3% from the average session volume of 356,472 shares. The stock had previously closed at $1.80.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Opus Genetics from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of Opus Genetics in a report on Friday, June 27th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Opus Genetics in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.33.

Opus Genetics Trading Up 4.4%

The stock has a market cap of $112.63 million, a price-to-earnings ratio of -0.98 and a beta of 0.11. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.06. The business's 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.09.

Opus Genetics (NASDAQ:IRD - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.13. Opus Genetics had a negative net margin of 377.89% and a negative return on equity of 384.33%. The company had revenue of $2.88 million for the quarter, compared to analyst estimates of $4.27 million. On average, research analysts expect that Opus Genetics, Inc. will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Opus Genetics during the 1st quarter valued at $26,000. Apollon Wealth Management LLC bought a new position in shares of Opus Genetics in the first quarter valued at about $28,000. Comerica Bank bought a new position in shares of Opus Genetics in the first quarter valued at about $29,000. Opaleye Management Inc. lifted its stake in shares of Opus Genetics by 3.8% during the 2nd quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company's stock worth $1,149,000 after buying an additional 45,000 shares during the last quarter. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Opus Genetics during the 1st quarter worth about $47,000. 14.97% of the stock is currently owned by institutional investors.

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.

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