Piper Sandler Initiates Coverage on Opus Genetics, Inc. (IRD) With "Overweight" Rating and $7 PT

Opus Genetics, Inc. (NASDAQ:IRD) is one of the 12 hot penny stocks to invest in right now.

On November 25, 2025, The Fly reported that Piper Sandler initiated coverage of Opus Genetics, Inc. (NASDAQ:IRD) with an “Overweight” rating and a $7 price target. The investment firm highlighted OPGx-LCA5, the company’s lead gene therapy program. The program aims to treat Leber congenital amaurosis type 5 (LCA5), a condition that currently has no available treatment options. At the same time, the company’s second program, OPGx-BEST1, which targets BEST1-related inherited retinal diseases, also boasts encouraging preclinical data, boosting the investment firm’s confidence.

Earlier, on November 12, Opus Genetics, Inc. (NASDAQ:IRD) reported Q3 2025 results. The quarter saw its net loss widen to $17.5 million from $7.5 million in the prior-year quarter. This was driven by changes in the fair value of warrants. Furthermore, the company noted significant progress in its gene therapy pipeline, including positive Phase 1/2 data for OPGx-LCA5, which showed significant improvements in vision for pediatric patients.

During the quarter, the company also reported the successful completion of a Type B Regenerative Medicine Advanced Therapy (RMAT) meeting with the U.S. Food and Drug Administration (FDA). The management believes this completion will enhance the potential for an accelerated regulatory pathway to OPGx-LCA5 approval. Opus Genetics, Inc. (NASDAQ:IRD) also completed a $23 million equity offering, expected to provide financial support for advancing the company’s clinical trials, including the ongoing Phase ½ trial for OPGx-BEST1.

Opus Genetics, Inc. (NASDAQ:IRD) is focused on the development of gene therapies to restore vision in patients with inherited retinal diseases.

While we acknowledge the potential of IRD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 12 Best Commodity Stocks to Buy Right Now and 10 Best Crypto-Related Stocks to Invest In.

Disclosure: None.