Oruka Therapeutics (NASDAQ:ORKA) Coverage Initiated by Analysts at Barclays

Key Points

• Analysts at Barclays initiated coverage of Oruka Therapeutics (NASDAQ:ORKA) with an "overweight" rating and a price target of $48.00, suggesting an upside of 88.24% from the stock's previous close.
• Oruka Therapeutics has received mixed ratings from various analysts, with two giving a Strong Buy, three a Buy, and one a Sell rating, reflecting differing outlooks on the company's potential.
• The firm reported a loss of ($0.46) earnings per share for the last quarter, outperforming analysts' expectations of ($0.48).

Analysts at Barclays started coverage on shares of Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set an "overweight" rating and a $48.00 price target on the stock. Barclays's price objective indicates a potential upside of 88.24% from the stock's previous close.

Several other research firms have also commented on ORKA. BTIG Research reissued a "buy" rating and issued a $56.00 price target on shares of Oruka Therapeutics in a research report on Monday, September 29th. Wall Street Zen upgraded Oruka Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, September 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Oruka Therapeutics in a report on Wednesday, October 8th. Wedbush reissued an "outperform" rating and set a $40.00 target price on shares of Oruka Therapeutics in a report on Tuesday, August 12th. Finally, HC Wainwright restated a "buy" rating and issued a $45.00 price target on shares of Oruka Therapeutics in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Oruka Therapeutics presently has an average rating of "Buy" and a consensus price target of $41.80.

Oruka Therapeutics Stock Performance

Shares of ORKA stock opened at $25.50 on Monday. Oruka Therapeutics has a 52-week low of $5.49 and a 52-week high of $31.13. The firm has a market capitalization of $954.98 million, a P/E ratio of -9.07 and a beta of -0.29. The stock has a 50 day moving average price of $16.53 and a 200 day moving average price of $13.11.

Oruka Therapeutics (NASDAQ:ORKA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.46) earnings per share for the quarter, beating analysts' consensus estimates of ($0.48) by $0.02. As a group, sell-side analysts forecast 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 bought and sold shares of ORKA. Legal & General Group Plc acquired a new stake in Oruka Therapeutics in the second quarter valued at $28,000. Ameritas Investment Partners Inc. acquired a new stake in Oruka Therapeutics in the second quarter valued at $31,000. BNP Paribas Financial Markets grew its holdings in shares of Oruka Therapeutics by 464.0% during the second quarter. BNP Paribas Financial Markets now owns 2,803 shares of the company's stock worth $31,000 after purchasing an additional 2,306 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Oruka Therapeutics during the second quarter worth about $68,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Oruka Therapeutics during the second quarter worth about $96,000. 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.