Wedbush Expects Reduced Earnings for Oruka Therapeutics

Oruka Therapeutics, Inc. (NASDAQ:ORKA) – Stock analysts at Wedbush reduced their FY2024 earnings estimates for Oruka Therapeutics in a research report issued on Wednesday, November 13th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($2.46) per share for the year, down from their prior estimate of ($0.99). Wedbush has a “Strong-Buy” rating on the stock. The consensus estimate for Oruka Therapeutics’ current full-year earnings is ($2.50) per share. Wedbush also issued estimates for Oruka Therapeutics’ Q4 2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.40) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at ($0.45) EPS, Q4 2025 earnings at ($0.46) EPS, FY2025 earnings at ($1.74) EPS, FY2026 earnings at ($2.08) EPS, FY2027 earnings at ($2.45) EPS and FY2028 earnings at ($2.94) EPS.

A number of other brokerages also recently commented on ORKA. Jefferies Financial Group began coverage on shares of Oruka Therapeutics in a research report on Friday, September 13th. They set a “buy” rating and a $40.00 price objective on the stock. Leerink Partners started coverage on shares of Oruka Therapeutics in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $44.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $45.00 target price on shares of Oruka Therapeutics in a research note on Thursday, October 31st. Stifel Nicolaus started coverage on shares of Oruka Therapeutics in a research note on Friday, October 11th. They issued a “buy” rating and a $49.00 target price for the company. Finally, TD Cowen started coverage on shares of Oruka Therapeutics in a research note on Monday, September 16th. They issued a “buy” rating for the company. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $43.17.

Oruka Therapeutics Price Performance

Shares of ORKA opened at $24.04 on Monday. The company’s 50 day moving average is $26.76. Oruka Therapeutics has a 52 week low of $18.72 and a 52 week high of $53.88. The stock has a market capitalization of $29.09 million, a P/E ratio of -3.84 and a beta of 0.87.

Institutional Trading of Oruka Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC acquired a new stake in shares of Oruka Therapeutics in the third quarter worth $343,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Oruka Therapeutics in the third quarter worth $1,037,000. Wellington Management Group LLP acquired a new stake in shares of Oruka Therapeutics in the third quarter worth $2,013,000. Janus Henderson Group PLC acquired a new stake in shares of Oruka Therapeutics in the third quarter worth $5,840,000. Finally, Redmile Group LLC acquired a new stake in shares of Oruka Therapeutics in the third quarter worth $10,091,000. 56.44% of the stock is currently owned by institutional investors and hedge funds.

About Oruka Therapeutics

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.