Oruka Therapeutics, Inc. (ORKA) was reiterated at Outperform by Wedbush analyst Martin Fan with a 12-month price target of $165, nearly triple the company's current share price of $63.90. The valuation is based on a sum-of-parts model projecting worldwide sales of its lead program ORKA-001 and ORKA-002, discounted to reflect development risk.
ORKA's pipeline is anchored by ORKA-001, an IL-23p19 antibody in psoriasis. The Phase 2a EVERLAST-A study has already shown strong efficacy, with 63.5% of patients achieving PASI 100 at Week 16. Longer-term follow-up data, including 28 weeks for all patients and 52 weeks for a subset, are expected in the second half of 2026. Analysts will be watching whether responses deepen and whether maintenance data could support once-yearly or as-needed dosing. A Phase 2b dose-ranging trial, EVERLAST-B, is underway with results anticipated in 2027 to support Phase 3 initiation.
For comments and feedback: editorial@rttnews.com