UBS raised the firm’s price target on Oruka Therapeutics (ORKA) to $75 from $50 and keeps a Buy rating on the shares. The company now expects to report 16-week efficacy data for ORKA-001 in psoriasis in Q2, the analyst tells investors in a research note. The firm likes the share setup heading into the readout and believes the data will be strong, with PASI-100 rates in or above the 40% range, comparable or better than Skyrizi’s 16-week efficacy in Phase 3.
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