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

HC Wainwright reiterated their buy rating on shares of Opus Genetics (NASDAQ:IRD) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

Opus Genetics Stock Up 1.8 %

Shares of IRD opened at $1.12 on Wednesday. The company has a market cap of $35.36 million, a price-to-earnings ratio of -1.03 and a beta of 0.16. Opus Genetics has a 1-year low of $0.81 and a 1-year high of $2.65. The firm’s 50-day moving average is $1.15.

Insider Activity

In other news, CEO George Magrath purchased 100,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $0.98 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the chief executive officer now owns 599,150 shares in the company, valued at approximately $587,167. This represents a 20.03 % 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.