Opus Genetics’ (IRD) Buy Rating Reiterated at HC Wainwright

Opus Genetics (NASDAQ:IRD)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock.

Opus Genetics Price Performance

Shares of IRD opened at $1.20 on Thursday. The company has a market capitalization of $37.88 million, a P/E ratio of -1.10 and a beta of 0.19. Opus Genetics has a 52-week low of $0.85 and a 52-week high of $3.40.

Opus Genetics (NASDAQ:IRD) last issued its earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.01. Opus Genetics had a negative net margin of 324.45% and a negative return on equity of 63.65%. The business had revenue of $3.87 million during the quarter, compared to analysts’ expectations of $1.17 million. On average, sell-side analysts predict that Opus Genetics will post -1.22 EPS for the current fiscal year.

Insider Activity

In other Opus Genetics news, CEO George Magrath purchased 90,294 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $1.01 per share, for a total transaction of $91,196.94. Following the purchase, the chief executive officer now directly owns 483,244 shares in the company, valued at approximately $488,076.44. This trade represents a 22.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.60% of the company’s stock.

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.