Wedbush Has Pessimistic Outlook of ORKA FY2024 Earnings

Oruka Therapeutics, Inc. (NASDAQ:ORKA) – Stock analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for shares of Oruka Therapeutics in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst D. Nierengarten now expects that the company will post earnings of ($2.46) per share for the year, down from their previous forecast 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 equities analysts also recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Oruka Therapeutics in a research note on Friday, September 13th. They set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus began coverage on Oruka Therapeutics in a research report on Friday, October 11th. They issued a “buy” rating and a $49.00 target price on the stock. Lifesci Capital began coverage on Oruka Therapeutics in a research report on Monday, September 16th. They set an “outperform” rating and a $41.00 price target for the company. Leerink Partners began coverage on Oruka Therapeutics in a research note on Tuesday, September 17th. They set an “outperform” rating and a $44.00 price target for the company. Finally, Leerink Partnrs raised Oruka Therapeutics to a “strong-buy” rating in a research note on Tuesday, September 17th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $43.17.

Oruka Therapeutics Price Performance

ORKA opened at $21.13 on Monday. Oruka Therapeutics has a 1 year low of $18.72 and a 1 year high of $53.88. The business has a 50 day moving average of $26.76. The firm has a market capitalization of $25.53 million, a PE ratio of -3.38 and a beta of 0.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC purchased a new stake in shares of Oruka Therapeutics in the third quarter worth about $343,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Oruka Therapeutics during the 3rd quarter valued at about $1,037,000. Wellington Management Group LLP acquired a new position in Oruka Therapeutics during the 3rd quarter worth approximately $2,013,000. Janus Henderson Group PLC acquired a new position in Oruka Therapeutics during the 3rd quarter worth approximately $5,840,000. Finally, Redmile Group LLC purchased a new position in Oruka Therapeutics in the 3rd quarter worth approximately $10,091,000. 56.44% of the stock is owned by hedge funds and other institutional investors.

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.