In a report released today, Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Oruka Therapeutics (ORKA – Research Report), with a price target of $45.00.
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Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Oruka Therapeutics’ promising developments. The company has initiated the dosing of its ORKA-002 trial ahead of schedule, which is a significant milestone. This trial focuses on a novel monoclonal antibody targeting IL-17A and IL-17F, and the early start indicates strong progress in their clinical timeline.
Additionally, Oruka’s market valuation does not currently reflect the potential of its lead candidates, ORKA-001 and ORKA-002, which are positioned to compete with existing treatments like Bimzelx. The anticipated interim results from the Phase 1 trial of ORKA-002 and the planned Phase 2 study in psoriasis further bolster confidence in Oruka’s pipeline. The strategic development of a combination regimen with ORKA-001 also presents a potential breakthrough in psoriasis treatment, supporting the Buy rating and a 12-month price target of $45.
According to TipRanks, Kapoor is an analyst with an average return of -22.7% and a 28.25% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Halozyme, and Ionis Pharmaceuticals.
In another report released on May 22, BTIG also initiated coverage with a Buy rating on the stock with a $44.00 price target.
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