Opus Genetics (NASDAQ:IRD) Announces Quarterly Earnings Results, Misses Estimates By $0.93 EPS

Opus Genetics (NASDAQ:IRD) issued its quarterly earnings results on Monday. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.93), Zacks reports. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The business had revenue of $3.40 million for the quarter, compared to analyst estimates of $11.10 million.

Opus Genetics Stock Down 7.3 %

Shares of IRD stock opened at $0.91 on Wednesday. The company’s fifty day simple moving average is $1.07. Opus Genetics has a 12 month low of $0.81 and a 12 month high of $1.56. The company has a market cap of $29.16 million, a price-to-earnings ratio of -0.83 and a beta of 0.28.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IRD shares. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Opus Genetics in a research note on Tuesday. Jones Trading reduced their target price on Opus Genetics from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday.

Opus Genetics Company Profile

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.