Opus Genetics (IRD) Expected to Announce Quarterly Earnings on Tuesday

Key Points

• Opus Genetics is set to announce earnings on August 12th, with analysts predicting an earnings loss of ($0.25) per share and revenue of $4.27 million.
• The company's previous quarter resulted in an earnings loss of ($0.32) per share, which was better than the expected ($0.34), alongside a revenue of $4.30 million, surpassing the $4.00 million forecast.
• Several analysts have upgraded their ratings on Opus Genetics, with HC Wainwright setting a price target of $8.00 while Royal Bank of Canada recently acquired a 0.67% stake in the company.

Opus Genetics (NASDAQ:IRD - Get Free Report) will likely be issuing its quarterly earnings data before the market opens on Tuesday, August 12th. Analysts expect the company to announce earnings of ($0.25) per share and revenue of $4.27 million for the quarter.

Opus Genetics (NASDAQ:IRD - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business had revenue of $4.30 million for the quarter, compared to the consensus estimate of $4.00 million. Opus Genetics had a negative net margin of 429.42% and a negative return on equity of 283.28%. On average, analysts expect Opus Genetics to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Opus Genetics Price Performance

Shares of IRD stock traded down $0.02 on Friday, hitting $1.07. 59,766 shares of the stock traded hands, compared to its average volume of 175,044. The firm has a market cap of $63.84 million, a price-to-earnings ratio of -0.51 and a beta of 0.01. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $1.77. The firm has a 50 day simple moving average of $1.05 and a two-hundred day simple moving average of $1.01.

Analysts Set New Price Targets

IRD has been the subject of several research analyst reports. Wall Street Zen raised shares of Opus Genetics from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Craig Hallum began coverage on shares of Opus Genetics in a report on Friday, April 11th. They set a "buy" rating and a $6.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and issued a $8.00 price target on shares of Opus Genetics in a report on Friday, June 27th.

Institutional Trading of Opus Genetics

A hedge fund recently bought a new stake in Opus Genetics stock. Royal Bank of Canada bought a new stake in Opus Genetics, Inc. (NASDAQ:IRD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 304,123 shares of the company's stock, valued at approximately $299,000. Royal Bank of Canada owned 0.67% of Opus Genetics at the end of the most recent reporting period. Institutional investors and hedge funds own 14.97% of the company's 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.