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

HC Wainwright started coverage on shares of Opus Genetics (NASDAQ:IRD) in a report released on Wednesday, MarketBeat Ratings reports. The firm 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 Price Performance

Shares of NASDAQ IRD traded down $0.08 during midday trading on Wednesday, hitting $0.98. The stock had a trading volume of 48,539 shares, compared to its average volume of 170,203. The firm has a market capitalization of $30.94 million, a P/E ratio of -0.97 and a beta of 0.22. Opus Genetics has a 1-year low of $0.98 and a 1-year high of $3.40.

Opus Genetics (NASDAQ:IRD) last announced its earnings results on Tuesday, November 12th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.01. The business had revenue of $3.87 million for the quarter, compared to the consensus estimate of $1.17 million. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. On average, equities research analysts expect that Opus Genetics will post -1.11 EPS for the current fiscal 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.