Oruka Therapeutics, Inc. (NASDAQ:ORKA) Given Consensus Recommendation of “Buy” by Brokerages

Oruka Therapeutics, Inc. (NASDAQ:ORKA) has received a consensus recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $43.17.

ORKA has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Oruka Therapeutics in a research note on Friday, December 20th. Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a report on Tuesday, September 17th. Leerink Partners initiated coverage on Oruka Therapeutics in a research note on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Finally, TD Cowen assumed coverage on shares of Oruka Therapeutics in a research report on Monday, September 16th. They set a “buy” rating on the stock.

Institutional Investors Weigh In On Oruka Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company purchased a new position in shares of Oruka Therapeutics during the 3rd quarter worth approximately $1,037,000. Wellington Management Group LLP purchased a new position in shares of Oruka Therapeutics during the third quarter worth $2,013,000. Franklin Resources Inc. acquired a new stake in shares of Oruka Therapeutics in the third quarter valued at $17,661,000. Point72 Asset Management L.P. purchased a new stake in shares of Oruka Therapeutics in the 3rd quarter valued at $11,822,000. Finally, RTW Investments LP acquired a new position in Oruka Therapeutics during the 3rd quarter worth about $45,359,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

Oruka Therapeutics Price Performance

Oruka Therapeutics stock opened at $19.97 on Friday. The business’s fifty day simple moving average is $22.88. The stock has a market capitalization of $698.93 million, a price-to-earnings ratio of -3.19 and a beta of 0.78. Oruka Therapeutics has a 52-week low of $17.64 and a 52-week high of $53.88.

Oruka Therapeutics Company Profile

ARCA biopharma, Inc, a biopharmaceutical company, develops genetically-targeted therapies for heart failure and cardiovascular diseases. It is positioned to bring personalized therapies for the treatment of cardiovascular disease, through the use of genetics. Complementing the Company’s cardiovascular science, ARCA’s management team has significant experience in developing and commercializing cardiovascular products.