Opus Genetics (NASDAQ:IRD) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Opus Genetics (NASDAQ:IRD) in a report published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $8.00 price objective on the stock. HC Wainwright also issued estimates for Opus Genetics’ Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($1.22) EPS, FY2025 earnings at ($1.03) EPS, FY2026 earnings at ($0.75) EPS, FY2027 earnings at ($0.53) EPS and FY2028 earnings at ($0.23) EPS.

Opus Genetics Stock Performance

IRD stock remained flat at $1.06 on Wednesday. The company had a trading volume of 292,892 shares, compared to its average volume of 171,438. Opus Genetics has a 12-month low of $0.97 and a 12-month high of $3.40. The stock has a market cap of $33.46 million, a price-to-earnings ratio of -0.97 and a beta of 0.22.

Opus Genetics (NASDAQ:IRD) last posted its earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The firm had revenue of $3.87 million for the quarter, compared to analyst estimates of $1.17 million. On average, analysts anticipate that Opus Genetics will post -1.11 EPS for the current year.

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.