Analyst Mitchell Kapoor of H.C. Wainwright reiterated a Buy rating on Oruka Therapeutics (ORKA – Research Report), retaining the price target of $45.00.
Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding Oruka Therapeutics’ promising developments with ORKA-001. The company is on the verge of starting a mid-stage proof-of-concept trial for ORKA-001, following a successful Phase 1 trial that began ahead of schedule. This upcoming Phase 2a study is notable for its innovative design, aiming to enroll 80 patients with moderate-to-severe psoriasis and employing a primary endpoint of PASI 100 at week 16. The study’s design also includes maintenance arms to evaluate extended dosing intervals and potential ultra-long responses, which could significantly enhance the therapeutic’s profile.
Furthermore, preclinical data has shown that ORKA-001 exhibits a half-life in non-human primates that is significantly longer than existing treatments like AbbVie’s SKYRIZI. This extended half-life suggests the potential for longer dosing intervals, which could lead to sustained remission-like responses in patients. The combination of these promising clinical and preclinical findings underpins Kapoor’s confidence in ORKA-001’s potential to become a best-in-disease treatment, justifying the Buy rating and a 12-month price target of $45.
According to TipRanks, Kapoor is an analyst with an average return of -25.5% and a 25.40% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Halozyme, and Summit Therapeutics.