Opus Genetics (NASDAQ:IRD) Price Target Raised to $10.00

Opus Genetics (NASDAQ:IRD) had its price target lifted by research analysts at Wedbush from $8.00 to $10.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 99.60% from the company’s current price.

Several other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a report on Thursday, January 22nd. B. Riley Financial started coverage on shares of Opus Genetics in a report on Wednesday, December 10th. They set a “buy” rating and a $9.00 price target on the stock. Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Finally, Lifesci Capital upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Opus Genetics currently has a consensus rating of “Buy” and an average price target of $9.25.

Opus Genetics Stock Performance

Shares of IRD stock opened at $5.01 on Thursday. The company’s 50-day moving average is $3.07 and its 200 day moving average is $2.28. Opus Genetics has a one year low of $0.65 and a one year high of $5.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $345.49 million, a price-to-earnings ratio of -6.11 and a beta of 0.45.

Insider Buying and Selling at Opus Genetics

In other news, Director Cam Gallagher bought 83,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average price of $1.97 per share, for a total transaction of $163,510.00. Following the purchase, the director owned 83,000 shares in the company, valued at $163,510. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Opus Genetics in the fourth quarter worth about $34,000. Occudo Quantitative Strategies LP bought a new stake in Opus Genetics during the 4th quarter valued at approximately $25,000. Opaleye Management Inc. lifted its holdings in Opus Genetics by 1.8% in the 4th quarter. Opaleye Management Inc. now owns 1,120,000 shares of the company’s stock worth $2,251,000 after purchasing an additional 20,000 shares in the last quarter. Millennium Management LLC purchased a new position in Opus Genetics in the 4th quarter worth approximately $4,025,000. Finally, Balyasny Asset Management L.P. bought a new position in Opus Genetics in the 4th quarter worth approximately $5,463,000. 14.97% of the stock is 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.