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Investing.com - BTIG has reiterated its Buy rating and $44.00 price target on Oruka Therapeutics (NASDAQ:ORKA), citing positive market indicators for the company’s psoriasis treatment candidates. The target represents significant upside from the current price of $13.05, with analyst targets ranging from $15 to $47. According to InvestingPro data, the stock has experienced a challenging week, dropping nearly 16%.
The research firm points to strong revenue results from competing psoriasis treatments Skyrizi ($17.7 billion run-rate with 62% year-over-year growth) and Bimzelx ($1.9 billion run-rate with over 270% year-over-year growth) as positive indicators for ORKA’s pipeline potential. With a market capitalization of $488.6 million, ORKA represents a smaller player in this growing market.
ORKA-001, the company’s anti-IL-23p19 monoclonal antibody, has completed dosing in its Phase 1 healthy volunteer trial with initial data expected at the European Academy of Dermatology and Venereology (EADV) conference in September 2025. BTIG anticipates the pharmacokinetic data will confirm a class-leading half-life of approximately 50 days or longer compared to Skyrizi’s 28 days.
The company has begun dosing in the Phase 2a trial of ORKA-001 in psoriasis (EVERLAST-A) with initial data expected in the second half of 2026. For ORKA-002, the company’s anti-IL-17A/F monoclonal antibody, initial Phase 1 pharmacokinetic data from healthy volunteers is expected around year-end 2025.
Oruka Therapeutics ended the second quarter of 2025 with $351.5 million in cash, which BTIG expects will fund operations through 2027. InvestingPro analysis reveals the company holds more cash than debt on its balance sheet, though it’s quickly burning through cash reserves. InvestingPro subscribers can access 8 additional key financial insights about ORKA’s financial health and future prospects.
In other recent news, Oruka Therapeutics has received clearance from the U.S. Food and Drug Administration (FDA) for its investigational new drug application, allowing the company to proceed with its Phase 2a trial of ORKA-001 for moderate-to-severe psoriasis. The trial, named EVERLAST-A, will evaluate the safety and efficacy of the long-acting anti-IL-23p19 antibody in approximately 80 patients, with a primary endpoint of complete skin clearance by Week 16. Analysts from H.C. Wainwright and Stifel have reiterated their Buy ratings on Oruka Therapeutics, with price targets set at $45 and $47, respectively. The trial sites are currently open and actively enrolling patients, with data expected in the second half of 2026. Additionally, Oruka Therapeutics has promoted Laura Sandler to Chief Operating Officer. Sandler, who joined the company in 2024 as SVP of Operations, has been pivotal in advancing Oruka’s programs into clinical trials. These developments highlight Oruka’s ongoing efforts in the field of psoriasis treatment.
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