Oruka Therapeutics (NASDAQ:ORKA) Earns Buy Rating from HC Wainwright

Key Points

• HC Wainwright has reissued a buy rating for Oruka Therapeutics (NASDAQ:ORKA) with a target price of $45.00, indicating a potential upside of 192.78% from the current price.
• Oruka's stock has seen significant price fluctuations, with a 1-year low of $5.49 and a 1-year high of $52.32, and it currently has an average rating of "Buy" among analysts.
• Recent earnings reports show a loss of ($0.46) per share, exceeding analysts' expectations, with projections of -3.41 earnings per share for the current fiscal year.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $45.00 target price on the stock. HC Wainwright's price target would indicate a potential upside of 192.78% from the company's current price.

ORKA has been the subject of a number of other reports. BTIG Research initiated coverage on Oruka Therapeutics in a research note on Thursday, May 22nd. They set a "buy" rating for the company. Wedbush reaffirmed an "outperform" rating and set a $40.00 target price on shares of Oruka Therapeutics in a research report on Tuesday, August 12th. Finally, Wall Street Zen lowered Oruka Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Oruka Therapeutics has an average rating of "Buy" and a consensus price target of $40.38.

Oruka Therapeutics Price Performance

Shares of Oruka Therapeutics stock opened at $15.37 on Monday. The business has a fifty day simple moving average of $13.35 and a two-hundred day simple moving average of $11.52. Oruka Therapeutics has a 1 year low of $5.49 and a 1 year high of $52.32. The company has a market capitalization of $575.61 million, a price-to-earnings ratio of -5.47 and a beta of -0.35.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.02. As a group, equities analysts anticipate that Oruka Therapeutics will post -3.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oruka Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in Oruka Therapeutics in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Oruka Therapeutics during the 2nd quarter valued at $31,000. JPMorgan Chase & Co. purchased a new position in Oruka Therapeutics in the 4th quarter valued at about $54,000. BNP Paribas Financial Markets raised its stake in shares of Oruka Therapeutics by 464.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock valued at $31,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Oruka Therapeutics in the 2nd quarter valued at about $68,000. Institutional investors and hedge funds own 56.44% of the company's stock.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc is a biotechnology company, which focuses on developing novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002. The company is headquartered in Menlo Park, CA.

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