Opus Genetics (NASDAQ:IRD) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research report report published on Thursday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

Opus Genetics Trading Down 7.5 %

NASDAQ:IRD opened at $1.11 on Thursday. The stock has a market capitalization of $35.04 million, a price-to-earnings ratio of -1.02 and a beta of 0.19. Opus Genetics has a 1-year low of $0.85 and a 1-year high of $3.40.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.01. The company had revenue of $3.87 million for the quarter, compared to analyst estimates of $1.17 million. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. Research analysts anticipate that Opus Genetics will post -1.22 EPS for the current year.

Insider Activity

In other news, CEO George Magrath acquired 90,294 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $1.01 per share, with a total value of $91,196.94. Following the transaction, the chief executive officer now directly owns 483,244 shares in the company, valued at approximately $488,076.44. The trade was a 22.98 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.60% of the stock is owned by corporate insiders.

About Opus Genetics

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.