Why Blackmores, Class, Mesoblast, & St Barbara shares raced higher today

The Blackmores Limited (ASX:BKL) share price and the Mesoblast limited (ASX:MSB) share price are two of four racing higher on Thursday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

The S&P/ASX 200 index has given back the majority of its morning gains but remains on course to extend its positive run. In afternoon trade the benchmark index is up 0.25% to 6,654.6 points.

Four shares that are climbing more than most today are listed below. Here's why they are racing higher:

The Blackmores Limited (ASX: BKL) share price has surged over 7% higher to $79.30. This latest gain means the struggling health supplements company's shares are now up almost 12% in the space of just three days on the back of no news. Some investors may believe its shares have been oversold since its disappointing full year results release.

The Class Ltd (ASX: CL1) share price has jumped 10% to $1.49 despite there being no news out of the SMSF platform provider. However, with its shares falling heavily this year, bargain hunters may believe that they have fallen into the bargain bin. Especially given management's plan to expand its offering into new markets to drive growth.

The Mesoblast limited (ASX: MSB) share price has continued its positive run and is up a further 4% to $1.98. The biotech company's shares have been on fire this week thanks to a strategic partnership with global pain management leader Grünenthal. The two parties will develop and commercialise Mesoblast's Phase III allogeneic cell therapy candidate, MPC-06-ID. Management advised that the deal has the potential to generate in excess of $1 billion in cumulative milestone payments for Mesoblast.

The St Barbara Ltd (ASX: SBM) share price has risen almost 3% to $2.86. As well as benefiting from a small rebound in the gold price overnight, St Barbara's shares were given a boost this morning by a broker note out of Citi. According to the note, the broker has upgraded its shares to neutral from sell after revising its gold price forecasts.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia owns shares of Class Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Man smiling on top of rocks with mountains in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were in a nervous mood today.

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Beach Energy, Boss Energy, Cochlear, and Light & Wonder shares are pushing higher

These shares are having a good time on hump day. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing Tuesday session for ASX investors today.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Thinking of selling your CBA shares? This expert says you should hold on

CBA shares are up by about 80% since November 2023.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Bannerman Energy, Clarity, DroneShield, Lotus Resources are charging higher

These shares are making their shareholders smile on Tuesday. But why?

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors managed to ease out a gain from the markets today.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Paladin Energy, Santos, Tourism Holdings, and Woodside shares are racing higher

These shares are starting the week with a bang. But why?

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were nervous this Friday, ending the week on a sour note.

Read more »