Oruka Therapeutics (NASDAQ:ORKA) Price Target Raised to $56.00 at BTIG Research

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 lifted by investment analysts at BTIG Research from $44.00 to $56.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price objective points to a potential upside of 241.46% from the company's current price.

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

Oruka Therapeutics Price Performance

NASDAQ:ORKA traded up $0.85 during mid-day trading on Wednesday, reaching $16.40. The stock had a trading volume of 304,514 shares, compared to its average volume of 254,351. The business's 50 day moving average is $14.81 and its 200 day moving average is $12.22. Oruka Therapeutics has a fifty-two week low of $5.49 and a fifty-two week high of $31.13. The stock has a market cap of $614.20 million, a P/E ratio of -5.83 and a beta of -0.26.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.46) EPS for the quarter, topping analysts' consensus estimates of ($0.48) by $0.02. Equities analysts expect that Oruka Therapeutics will post -3.41 EPS for the current year.

Institutional Trading of Oruka Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORKA. Northern Trust Corp acquired a new stake in Oruka Therapeutics in the fourth quarter worth about $1,242,000. Jane Street Group LLC acquired a new stake in Oruka Therapeutics in the fourth quarter worth about $343,000. Millennium Management LLC acquired a new stake in Oruka Therapeutics in the fourth quarter worth about $588,000. Toronto Dominion Bank acquired a new stake in Oruka Therapeutics in the fourth quarter worth about $1,131,000. Finally, Squarepoint Ops LLC acquired a new stake in Oruka Therapeutics in the fourth quarter worth about $236,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

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.