HC Wainwright Reiterates “Buy” Rating for Opus Genetics (NASDAQ:IRD)

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

Opus Genetics Stock Performance

Shares of Opus Genetics stock opened at $1.02 on Thursday. Opus Genetics has a 52 week low of $0.85 and a 52 week high of $3.40. The firm has a market capitalization of $32.20 million, a price-to-earnings ratio of -0.94 and a beta of 0.19.

Opus Genetics (NASDAQ:IRD) last posted 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. Opus Genetics had a negative net margin of 324.45% and a negative return on equity of 63.65%. The firm had revenue of $3.87 million for the quarter, compared to analysts’ expectations of $1.17 million. On average, equities analysts expect that Opus Genetics will post -1.22 EPS for the current fiscal year.

Insider Activity

In other news, CEO George Magrath purchased 90,294 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $1.01 per share, for a total transaction of $91,196.94. Following the completion of the purchase, the chief executive officer now owns 483,244 shares in the company, valued at approximately $488,076.44. This represents a 22.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 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.