Chardan Capital Reiterates Buy Rating on Opus Genetics
Chardan Capital has reiterated its buy rating for Opus Genetics with a $13 price target, a 239.90% upside from the current price.
Key Points
- Chardan Capital reiterated its buy rating on Opus Genetics, setting a price target of $13 on June 18, 2026.
- Chardan Capital's $13 price target implies 239.90% upside from Opus Genetics, Inc.'s ($IRD) current $3.82 share price.
- Opus Genetics shares traded at $4.14 with a market cap of $335.2 million, and its forward P/E is not meaningful due to lack of profitability.
- Insider selling was noted in recent months, and several analysts have maintained or initiated buy ratings with various price targets.
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Chardan Capital has reiterated its buy rating for Opus Genetics, Inc. (NasdaqCM: IRD), setting a price target of $13. This update came on June 18, 2026, signaling continued confidence in the company's future prospects.
Other Institutional Activity in Opus Genetics
Several institutional investors have been active in Opus Genetics. Caligan Partners LP initiated a position with 6,075,028 shares valued at approximately $27.6 million. Adage Capital Partners GP, L.L.C. added 4,924,779 shares, bringing its total to 6,029,775 shares worth about $27.4 million. Meanwhile, Millennium Management LLC increased its holdings by 627,882 shares, ending with 2,630,432 shares valued at around $11.97 million.
Opus Genetics, Inc. Stock Up 3.6%
Shares of Opus Genetics recently traded at $4.14. The company has a market capitalization of about $335.2 million. The stock has a 52-week range between $0.90 and $5.81. Its 50-day moving average is $4.77, while the 200-day moving average is $3.15. Opus Genetics shows a current ratio of 7.13, indicating strong liquidity.
Recent Earnings
Opus Genetics reported revenue of $11.98 million, though it experienced a revenue decline of 50.6%. The company's return on equity stands at -75.95%, reflecting challenges in profitability. The next earnings report is scheduled for August 11, 2025.
Insider Buying and Selling at Opus Genetics, Inc.
Recent insider activity includes the sale of 1,700,000 shares by the Foundation Fighting Blindness Retinal Degeneration Fund on May 18, 2026. Additionally, several executives, including Chief Scientific & Development Officer Jayagopal Ashwath and CEO George Magrath, sold shares in April 2026.
Analysts Set New Price Targets
On June 18, 2026, Chardan Capital maintained its buy rating with a $13 target. HC Wainwright & Co. reiterated a buy rating with an $8 target on June 17, 2026. Guggenheim initiated coverage with a buy rating and a $16 target on June 4, 2026. The consensus among analysts is a strong buy, with an average target price of $10.47 based on 17 opinions.
About Opus Genetics
Opus Genetics, Inc., headquartered in Durham, North Carolina, is a clinical-stage biopharmaceutical company. It focuses on developing gene therapies for inherited retinal diseases and other ophthalmic disorders. The company is working on several therapies, including OPGx-LCA5 and OPGx-BEST1, aimed at treating various retinal conditions. Founded in 2018, it is led by CEO Dr. George Magrath.
Bottom Line
Chardan Capital's reiterated buy rating and $13 price target suggest confidence in Opus Genetics' potential. Investors are closely watching the company's progress in developing treatments for retinal diseases. As always, it's important to remember that analyst ratings are based on past and present information and do not guarantee future performance.
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