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Investing.com - BTIG raised its price target on Oruka Therapeutics (NASDAQ:ORKA) to $56.00 from $44.00 on Wednesday, maintaining a Buy rating following positive interim Phase 1 results for the company’s ORKA-001 antibody treatment. The $606.51M market cap biotech company has seen analyst targets range from $26 to $47, according to InvestingPro data.
The experimental anti-IL-23 monoclonal antibody demonstrated a half-life of approximately 100 days, exceeding previous expectations of 50-75 days and lasting more than three times longer than AbbVie’s Skyrizi, a competing treatment. This extended half-life could enable annual dosing compared to Skyrizi’s quarterly regimen. The company maintains a strong liquidity position with a current ratio of 27.42x, providing runway for its clinical development programs.
ORKA-001 also showed a maximum concentration that exceeded Skyrizi at equivalent doses, suggesting potential for greater efficacy. The drug was well-tolerated at all dose levels with a safety profile consistent with its class.
Oruka management disclosed plans to use a 600mg dose for the induction phase in its EVERLASTA Phase 2a trial in psoriasis patients, with initial data expected in the second half of 2026. The company also plans to initiate a Phase 2b dose-ranging trial in the first half of 2026.
BTIG increased its probability of success for ORKA-001 in psoriasis to 70% from 60% and for ORKA-002 in both psoriasis and psoriatic arthritis to 60% from 55%, while also factoring in Oruka’s recent $180 million private placement. The stock has gained over 25% in the past six months, though InvestingPro analysis indicates current valuation exceeds Fair Value. Subscribers can access 8 additional ProTips and comprehensive financial metrics for deeper analysis.
In other recent news, Oruka Therapeutics has announced positive interim results from its Phase 1 trial of ORKA-001, a long-acting IL-23p19 antibody for plaque psoriasis treatment. The trial revealed that ORKA-001 has a half-life of approximately 100 days, significantly longer than the competing treatment, risankizumab. This extended half-life suggests the potential for once-yearly dosing, which could offer a competitive advantage over current treatments. Additionally, Oruka Therapeutics has raised approximately $180 million through a private placement to further its development of biologics for chronic skin diseases. The financing was led by Viking Global Investors, with participation from several other investment firms.
Clear Street has initiated coverage on Oruka Therapeutics with a Buy rating, setting a price target of $46.00. The firm emphasized the company’s work on next-generation analogs of established psoriasis treatments. Meanwhile, BTIG has reiterated its Buy rating and a $44.00 price target, citing promising indicators for Oruka’s psoriasis treatment pipeline. These developments highlight Oruka’s potential in the competitive landscape of psoriasis treatments.
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