Leerink Partners starts drug developer Oruka with 'outperform'

Oruka Therapeutics

17/09/2024 15:46

** Shares of Oruka Therapeutics ORKA.O> rise 4.87% to
$27.18
     ** Brokerage Leerink Partners starts coverage of Oruka
Therapeutics with "outperform" rating and PT of $44
    ** Calls the drug developer "killer whale in chronic skin
disease"
    ** Brokerage says shares will outperform as co advances
potential mega-blockbuster pipeline candidates which target the
$40 billion psoriasis and related disorder market opportunity 
     ** Adds best case scenario is efficiency of co's antibody
ORKA-001 matches or exceeds AbbVie's  ABBV.N  Skyrizi
    ** Co to start early stage trials for ORKA-001 in Q1 2025
for psoriasis - a chronic autoimmune disease that causes the
skin to become inflamed and scaly
    ** ORKA shares have more than doubled YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))