Guggenheim Reiterates Buy Rating for Oruka Therapeutics (NASDAQ:ORKA)

Oruka Therapeutics (NASDAQ:ORKA)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a report released on Friday,Benzinga reports. They currently have a $60.00 price objective on the stock. Guggenheim’s price target would indicate a potential upside of 81.76% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on ORKA. BTIG Research increased their price target on Oruka Therapeutics from $63.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Piper Sandler began coverage on shares of Oruka Therapeutics in a research note on Thursday, December 18th. They issued an “overweight” rating and a $75.00 price target for the company. Jefferies Financial Group started coverage on shares of Oruka Therapeutics in a report on Thursday, November 13th. They set a “buy” rating and a $45.00 price objective on the stock. UBS Group initiated coverage on shares of Oruka Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price on the stock. Finally, Wedbush raised their price target on shares of Oruka Therapeutics from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.50.

Oruka Therapeutics Price Performance

NASDAQ ORKA opened at $33.01 on Friday. Oruka Therapeutics has a 1-year low of $5.49 and a 1-year high of $36.53. The stock has a 50-day moving average of $32.68 and a two-hundred day moving average of $27.32. The company has a market cap of $1.60 billion, a P/E ratio of -17.37 and a beta of -0.38.

Oruka Therapeutics (NASDAQ:ORKA) last released its earnings results on Thursday, March 12th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.16. On average, analysts anticipate that Oruka Therapeutics will post -3.41 EPS for the current fiscal year.

Insider Transactions at Oruka Therapeutics

In other Oruka Therapeutics news, insider Joana Goncalves sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $32.37, for a total value of $226,590.00. Following the completion of the sale, the insider owned 34,018 shares of the company’s stock, valued at $1,101,162.66. The trade was a 17.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 21,000 shares of company stock valued at $663,530. Insiders own 24.69% of the company’s stock.

Institutional Investors Weigh In On Oruka Therapeutics

Large investors have recently made changes to their positions in the business. Legal & General Group Plc bought a new stake in Oruka Therapeutics in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. acquired a new position in Oruka Therapeutics in the second quarter valued at $31,000. BNP Paribas Financial Markets boosted its position 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 worth $31,000 after purchasing an additional 2,306 shares in the last quarter. Royal Bank of Canada lifted its position in Oruka Therapeutics by 47.2% during the 4th quarter. Royal Bank of Canada now owns 1,139 shares of the company’s stock worth $34,000 after acquiring an additional 365 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Oruka Therapeutics in the fourth quarter worth $37,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

Oruka Therapeutics Company Profile

Oruka Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development of novel peptide‐based therapies for oncology. The company’s proprietary stapled peptide platform is designed to selectively disrupt intracellular protein–protein interactions that drive tumor growth and immune evasion. By combining the specificity of biologics with the cell‐permeability of small molecules, Oruka aims to target cancer pathways that have been historically considered “undruggable.”

The company’s lead candidate, ONCT-01, is currently in Phase 1 clinical trials for patients with advanced solid tumors, assessing safety, tolerability and preliminary efficacy.