Opus Genetics (IRD) Projected to Post Earnings on Tuesday

Opus Genetics (NASDAQ:IRD) is expected to announce its results before the market opens on Tuesday, November 11th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter.

Opus Genetics (NASDAQ:IRD) last issued its quarterly earnings data on Friday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%. 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

Opus Genetics stock opened at $2.00 on Monday. The company has a market capitalization of $119.82 million, a price-to-earnings ratio of -1.04 and a beta of 0.16. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $2.37. The stock’s 50 day moving average is $1.77 and its 200-day moving average is $1.30.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRD. Chardan Capital reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Opus Genetics in a report on Friday. Wedbush started coverage on shares of Opus Genetics in a research report on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of IRD. Mink Brook Asset Management LLC lifted its position in Opus Genetics by 47.8% during the second quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock worth $1,128,000 after purchasing an additional 387,536 shares during the period. Vanguard Group Inc. raised its position in shares of Opus Genetics by 35.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock valued at $2,214,000 after buying an additional 349,825 shares in the last quarter. Royal Bank of Canada bought a new stake in shares of Opus Genetics during the 1st quarter worth approximately $299,000. Nantahala Capital Management LLC boosted its position in shares of Opus Genetics by 6.0% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock worth $3,152,000 after acquiring an additional 188,028 shares in the last quarter. Finally, Opaleye Management Inc. increased its stake in Opus Genetics by 3.8% in the second quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock valued at $1,149,000 after acquiring an additional 45,000 shares during the last quarter. 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.