Oruka Therapeutics (NASDAQ:ORKA) Stock Price Expected to Rise, BTIG Research Analyst Says

Key Points

• BTIG Research increased its target price for Oruka Therapeutics (NASDAQ: ORKA) from $44.00 to $56.00, suggesting a potential upside of 245.47% from the current price, and assigned a "buy" rating to the stock.
• The stock opened at $16.21, revealing a one-year low of $5.49 and a one-year high of $31.13, while the company has a market cap of $607.06 million.
• The consensus rating for Oruka Therapeutics is currently "buy," with several analysts projecting varying price objectives, the average being $42.00.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) had its target price upped by analysts at BTIG Research from $44.00 to $56.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective would suggest a potential upside of 245.47% from the company's current price.

Several other equities research analysts also recently issued reports on ORKA. HC Wainwright reiterated a "buy" rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Monday, August 18th. Wall Street Zen downgraded shares of Oruka Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Wedbush reiterated an "outperform" rating and set a $40.00 price objective on shares of Oruka Therapeutics in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $42.00.

Oruka Therapeutics Stock Performance

Oruka Therapeutics stock opened at $16.21 on Wednesday. Oruka Therapeutics has a 1 year low of $5.49 and a 1 year high of $31.13. The firm has a 50 day moving average price of $14.73 and a 200 day moving average price of $12.11. The company has a market cap of $607.06 million, a price-to-earnings ratio of -5.77 and a beta of -0.26.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.48) by $0.02. Sell-side analysts predict that Oruka Therapeutics will post -3.41 EPS for the current year.

Institutional Trading of Oruka Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in shares of Oruka Therapeutics in the 4th quarter worth approximately $343,000. Millennium Management LLC acquired a new position in shares of Oruka Therapeutics in the fourth quarter worth about $588,000. Squarepoint Ops LLC acquired a new position in shares of Oruka Therapeutics in the fourth quarter worth about $236,000. Northern Trust Corp acquired a new position in shares of Oruka Therapeutics in the fourth quarter worth about $1,242,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Oruka Therapeutics in the first quarter worth about $1,362,000. 56.44% of the stock is currently owned by institutional investors.

About Oruka Therapeutics

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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