Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on Oruka Therapeutics (ORKA – Research Report) and keeping the price target at $41.00.
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Sam Slutsky has given his Buy rating due to a combination of factors including Oruka Therapeutics’ strong financial position and promising clinical developments. The company concluded the quarter with $373 million in cash and equivalents, which is projected to sustain operations until 2027, ensuring financial stability for the foreseeable future. Additionally, Oruka is making significant progress with its clinical pipeline, notably accelerating the Phase 1 trial of ORKA-002, an anti-IL-17A/F inhibitor, with results anticipated earlier than initially planned.
Furthermore, the development of ORKA-001, aimed at enhancing the efficacy of existing IL-23 blockers for psoriasis, is on track with promising Phase 1 data expected soon. The company’s strategic decision to withhold information on ORKA-003 for competitive reasons is also seen as a prudent move. These factors collectively highlight Oruka’s potential for growth and innovation in the therapeutic space, supporting the Buy recommendation.
Slutsky covers the Healthcare sector, focusing on stocks such as Immunovant, Olema Pharmaceuticals, and Astria Therapeutics. According to TipRanks, Slutsky has an average return of -9.5% and a 29.34% success rate on recommended stocks.
In another report released today, Wedbush also maintained a Buy rating on the stock with a $40.00 price target.