Oruka Therapeutics, Inc. (NASDAQ:ORKA) Receives Average Rating of “Buy” from Brokerages

Shares of Oruka Therapeutics, Inc. (NASDAQ:ORKA) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $43.17.

A number of brokerages have recently issued reports on ORKA. Jefferies Financial Group began coverage on shares of Oruka Therapeutics in a report on Friday, September 13th. They set a “buy” rating and a $40.00 price target on the stock. Leerink Partners initiated coverage on shares of Oruka Therapeutics in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $40.00 target price on shares of Oruka Therapeutics in a research note on Tuesday, November 19th. Lifesci Capital initiated coverage on Oruka Therapeutics in a research note on Monday, September 16th. They issued an “outperform” rating and a $41.00 price target on the stock. Finally, Stifel Nicolaus started coverage on Oruka Therapeutics in a research report on Friday, October 11th. They set a “buy” rating and a $49.00 price objective for the company.

Oruka Therapeutics Price Performance

Oruka Therapeutics stock opened at $19.98 on Friday. Oruka Therapeutics has a one year low of $18.20 and a one year high of $53.88. The firm’s fifty day simple moving average is $24.13. The stock has a market capitalization of $699.28 million, a PE ratio of -3.19 and a beta of 0.78.

Institutional Investors Weigh In On Oruka Therapeutics

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

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.