Oruka Therapeutics (ORKA) PT Raised to $150 at Stifel

Stifel analyst Alex Thompson raised the price target on Oruka Therapeutics (NASDAQ: ORKA) to $150.00 (from $72.00) while maintaining a Buy rating.

The analyst comments "We are updating our model and our TP to $150 from $72. Following the positive topline results we are increasing our ORKA-001 PoS to 75% from 66% to reflect the de-risking following these data. Additionally, we increased our peak penetration in PsO to 19% from 12% to reflect a best-in-class profile, which implies US peak sales of ~$7B. We now assume similar launch timelines to icotrokinra, which implies a 2030 launch and. We also lowered our discount rate to 11.5% from 12% to reflect the progression to later-stage development for ORKA."

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