Craig Hallum Initiates Coverage on Opus Genetics (NASDAQ:IRD)

Equities researchers at Craig Hallum began coverage on shares of Opus Genetics (NASDAQ:IRD) in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $6.00 price target on the stock.

A number of other research firms have also recently issued reports on IRD. Jones Trading reduced their price objective on Opus Genetics from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of Opus Genetics in a research note on Tuesday, April 1st.

Opus Genetics Price Performance

IRD stock opened at $0.71 on Friday. The stock’s 50-day moving average is $1.01. The company has a market cap of $32.23 million, a P/E ratio of -0.65 and a beta of 0.11. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $1.56.

Opus Genetics (NASDAQ:IRD) last announced its earnings results on Monday, March 31st. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.93). Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The company had revenue of $3.40 million for the quarter, compared to analyst estimates of $11.10 million. As a group, sell-side analysts anticipate that Opus Genetics will post -1.22 EPS for the current year.

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.