H.C. Wainwright Maintains Buy Rating on Oruka (ORKA) After the Early Start of OKRA-002 Trial

On May 27, analyst Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Oruka Therapeutics, Inc. (NASDAQ:ORKA) while keeping the price target at $45.

The reiterated bullish sentiment comes after the company initiated the dosing of its OKRA-002 trial ahead of the schedule.

A clinical researcher in a lab examining a new biopharmaceutical product.

Kapoor noted the early start of dosing for OKRA-002 to be a significant milestone for the company. ORKA-002 is a novel monoclonal antibody targeting IL-17A and IL-17F for psoriasis; early start indicates the company’s attention to clinical development timelines.

Moreover, Kapoor believes that ORKA-001 and ORKA-002 are well-positioned to compete with existing treatments such as Bimzelx. Therefore, the analyst highlights the current valuation of Oruka Therapeutics, Inc. (NASDAQ:ORKA) does not reflect the potential of its lead products.

Oruka Therapeutics, Inc. (NASDAQ:ORKA) is a clinical-stage biopharmaceutical company focused on developing novel monoclonal antibody therapeutics primarily for psoriasis and other inflammatory and immunology conditions. ORKA-001 and ORKA-002 are the company’s lead products.

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Disclosure: None.