Opus Genetics (NASDAQ:IRD) Posts Quarterly Earnings Results

Opus Genetics (NASDAQ:IRD) released its earnings results on Tuesday. The company reported ($0.21) EPS for the quarter, FiscalAI reports. The business had revenue of $3.87 million for the quarter. Opus Genetics had a negative net margin of 466.09% and a negative return on equity of 697.94%.

Opus Genetics Stock Performance

IRD stock opened at $4.85 on Wednesday. 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 stock has a market cap of $334.46 million, a P/E ratio of -2.58 and a beta of 0.45. The firm has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $2.26. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $5.30.

Analysts Set New Price Targets

IRD has been the topic of several research reports. Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a report on Thursday, February 12th. Brookline Capital Acquisition upgraded Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Chardan Capital restated a “buy” rating and set a $9.00 price objective on shares of Opus Genetics in a report on Thursday, November 13th. BTIG Research upped their price objective on shares of Opus Genetics from $7.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $8.38.

Insiders Place Their Bets

In other news, Director Cam Gallagher bought 83,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $1.97 per share, with a total value of $163,510.00. Following the transaction, the director directly owned 83,000 shares in the company, valued at approximately $163,510. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Blair William & Co. IL boosted its stake in Opus Genetics by 12.3% in the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after buying an additional 3,000 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Opus Genetics by 95.6% in the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Opus Genetics in the 4th quarter worth about $25,000. Virtu Financial LLC acquired a new stake in shares of Opus Genetics during the 4th quarter worth about $34,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Opus Genetics during the 4th quarter worth about $40,000. 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.