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

HC Wainwright reissued their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research note released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $8.00 price target on the stock.

Opus Genetics Stock Performance

Shares of IRD opened at $1.09 on Wednesday. Opus Genetics has a 52-week low of $0.81 and a 52-week high of $2.65. The firm has a fifty day simple moving average of $1.15. The company has a market cap of $34.41 million, a price-to-earnings ratio of -1.00 and a beta of 0.16.

Insider Activity

In other news, CEO George Magrath acquired 100,000 shares of Opus Genetics stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average price of $0.98 per share, for a total transaction of $98,000.00. Following the transaction, the chief executive officer now directly owns 599,150 shares of the company’s stock, valued at approximately $587,167. The trade was a 20.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.