Leerink Partners analyst David Risinger has reiterated their bullish stance on ORKA stock, giving a Buy rating on July 21.
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David Risinger’s rating is based on several compelling factors. Firstly, Oruka Therapeutics has received FDA clearance to initiate a Phase 2a trial for ORKA-001, an ultralong-acting antibody targeting IL-23p19, which shows promise for annual dosing in treating moderate-to-severe plaque psoriasis. This innovative approach could potentially redefine the standard of care by offering once-yearly dosing and higher clearance rates, which are significant advantages over existing treatments.
Additionally, the valuation of Oruka’s shares is considered attractive, with a current stock price significantly lower than the price target set by the firm. The company’s robust financial position, with substantial net cash and a promising pipeline that includes ORKA-002 for skin disorders, further supports the Buy rating. These factors combined suggest a strong potential for growth and value appreciation in Oruka’s stock.
In another report released on July 21, Stifel Nicolaus also reiterated a Buy rating on the stock with a $47.00 price target.
ORKA’s price has also changed slightly for the past six months – from $12.980 to $13.770, which is a 6.09% increase.