Orka Shares Climb 18.9% After 63.5% PASI 100 Trial and $160 Target
Barclays raised its Orka price target to $160 from $78 and maintained an Overweight rating following Phase 2a trial results for ORKA-001, a half-life–extended IL-23p19 inhibitor. The drug achieved a 63.5% PASI 100 score, driving an 18.93% stock surge to a 52-week high.
1. Barclays Upgrade and Price Target Boost
Barclays reaffirmed its Overweight rating on Orka and more than doubled its price target from $78 to $160, reflecting heightened confidence in the company’s late-stage clinical prospects.
2. Phase 2a Trial Achieves High Skin Clearance
Orka’s ORKA-001 Phase 2a trial reported a 63.5% PASI 100 response, with complete skin clearance in 40 of 63 moderate-to-severe plaque psoriasis patients, underscoring the antibody’s efficacy.
3. Stock Reaction and Valuation Metrics
Following the announcement, Orka shares jumped 18.93% to a 52-week high of $91, lifting its market capitalization to approximately $3.07 billion and marking a sharp recovery from the $8.91 low.
4. Upcoming Catalysts and Dosing Potential
The half-life extension technology aims for once-yearly dosing and Orka plans to release longer-term Phase 2a follow-up data in H2 2026, with Phase 2b EVERLAST-B dose-finding results expected in 2027.