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

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

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

Here are the top 10 ASX 200 shares today

It was a miserly session for investors today.

Read more »

Happy coal miner.
Share Gainers

Up 75% this week, why is this ASX All Ords stock rocketing again today?

Investors are piling into this ASX 300 stock on Wednesday. But why?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a bountiful session for investors this hump day.

Read more »

Man looking happy and excited as he looks at his mobile phone.
Share Gainers

Why Coronado, DroneShield, Lovisa, and Mayne Pharma shares are racing higher today

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

Read more »

Man pointing at a blue rising share price graph.
Share Gainers

Guess which ASX 300 stock just rocketed 43% on big news!

Investors are piling into this ASX 300 stock on Wednesday. But why?

Read more »

Three friends leaping in the air in joy with a dog on the ground.
Share Gainers

Can May's top 3 performing ASX 50 stocks repeat in June?

These three blue chip stocks led the pack in the month of May. Do brokers think they can back it…

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

The ASX was back to the races this Tuesday.

Read more »

A woman reaches her arms to the sky as a plane flies overhead at sunset.
Travel Shares

Why the Qantas share price soared 20% in May to new all-time highs

With another stellar month in May, Qantas shares are up more than 79% in a year.

Read more »