Opus Genetics (NASDAQ:IRD) Issues Quarterly Earnings Results

Opus Genetics (NASDAQ:IRD) posted its earnings results on Tuesday. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.01, Zacks reports. The firm had revenue of $3.87 million for the quarter, compared to analysts’ expectations of $1.17 million. Opus Genetics had a negative net margin of 324.45% and a negative return on equity of 59.72%.

Opus Genetics Stock Down 5.3 %

IRD stock traded down $0.06 on Wednesday, reaching $1.08. The company’s stock had a trading volume of 145,459 shares, compared to its average volume of 170,476. Opus Genetics has a 12-month low of $1.07 and a 12-month high of $3.40.

Analyst Upgrades and Downgrades

Separately, HC Wainwright assumed coverage on shares of Opus Genetics in a report on Wednesday. They issued a “buy” rating and a $8.00 price target on the stock.

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.