Opus Genetics (NASDAQ:IRD) Releases Earnings Results, Misses Estimates By $0.11 EPS

Opus Genetics (NASDAQ:IRD) issued its quarterly earnings data on Tuesday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.11), FiscalAI reports. The business had revenue of $3.08 million during the quarter. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%.

Opus Genetics Stock Down 2.8%

Shares of NASDAQ IRD traded down $0.06 during midday trading on Wednesday, hitting $1.92. 288,030 shares of the stock traded hands, compared to its average volume of 512,803. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.90 and a current ratio of 1.90. Opus Genetics has a one year low of $0.65 and a one year high of $2.37. The business has a 50 day moving average price of $1.80 and a two-hundred day moving average price of $1.31. The company has a market cap of $124.48 million, a PE ratio of -1.00 and a beta of 0.16.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Chardan Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Opus Genetics in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Finally, Wedbush initiated coverage on shares of Opus Genetics in a research note on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.80.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IRD. Comerica Bank purchased a new stake in shares of Opus Genetics during the 1st quarter valued at $29,000. Royal Bank of Canada bought a new position in Opus Genetics during the first quarter valued at about $299,000. Nantahala Capital Management LLC increased its holdings in Opus Genetics by 6.0% during the second quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock worth $3,152,000 after buying an additional 188,028 shares during the last quarter. Mink Brook Asset Management LLC raised its position in Opus Genetics by 47.8% in the second quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock worth $1,128,000 after acquiring an additional 387,536 shares during the period. Finally, Opaleye Management Inc. raised its position in Opus Genetics by 3.8% in the second quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock worth $1,149,000 after acquiring an additional 45,000 shares during the period. 14.97% of the stock is owned by institutional investors.

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.