Oruka Therapeutics price target raised to $200 from $125 at Guggenheim

Guggenheim raised the firm’s price target on Oruka Therapeutics (ORKA) to $200 from $125 and keeps a Buy rating on the shares. The firm believes ORKA-001 has “multibillion blockbuster potential” for treatment of moderate-to-severe psoriasis after the company 16-week Phase IIa EVERLAST-A data. ORKA-001 achieved PASI-100 of 63.5%, significantly above buy-side expectations, the analyst tells investors in a research note. Guggenheim anticipates ORKA-001 to “recapitulate Phase III success.” It believes ORKA-001 now has potential for $7B in global peak sales.