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

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

Opus Genetics Stock Down 7.3 %

NASDAQ IRD opened at $0.91 on Wednesday. Opus Genetics has a 1 year low of $0.81 and a 1 year high of $1.56. The stock has a market cap of $29.16 million, a PE ratio of -0.83 and a beta of 0.28. The business has a 50 day moving average price of $1.07.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IRD. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Opus Genetics in a research report on Tuesday. Jones Trading lowered their price target on shares of Opus Genetics from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday.

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.