HC Wainwright Begins Coverage on Opus Genetics (NASDAQ:IRD)

Equities researchers at HC Wainwright began coverage on shares of Opus Genetics (NASDAQ:IRD) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $8.00 price target 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 Down 7.5 %

Shares of IRD traded down $0.08 during trading hours on Wednesday, reaching $0.98. 48,539 shares of the company traded hands, compared to its average volume of 170,203. The firm has a market cap of $30.94 million, a P/E ratio of -0.97 and a beta of 0.22. Opus Genetics has a fifty-two week low of $0.98 and a fifty-two week high of $3.40.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.29) 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 business had revenue of $3.87 million for the quarter, compared to analyst estimates of $1.17 million. As a group, equities analysts expect that Opus Genetics will post -1.11 EPS for the current fiscal year.

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.