Wedbush keeps Outperform ratings on Oruka, Fate and Immunome

what happened

Wedbush reiterated its Outperform rating on Oruka Therapeutics with a $165 price target, implying 82.7% upside from the October 26 close of $90.33, TradingView reports, citing Benzinga data. The analyst highlighted positive Phase 2b results from the EVERLAST-B trial for ORKA-001 in psoriasis, which support the earlier Phase 2a data and the company's annual dosing approach. Management's plan to add active comparator arms to its Phase 3 studies was also viewed favorably.

The same firm kept its Outperform rating on Fate Therapeutics with a $7 target, equal to 240.6% upside from the $2.06 close. Preliminary data for its lead program FT819 in lupus nephritis looked encouraging, and the therapy is now being administered in community hospitals and private practices.

Wedbush also reiterated Outperform on Immunome with a $35 target, a 95.6% upside from the $17.89 close. In the Phase 3 RINGSIDE trial, varegacestat cut the risk of progression or death by 84% versus placebo.

why it matters

Analyst reports like these on small biotech companies appear regularly and usually move individual stocks rather than the broader market. Price targets reflect the analyst's own estimates and are not forecasts or recommendations. For investors following these companies, the clinical trial results themselves matter more.

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