3 ASX healthcare shares up 10% to 22% on news

These healthcare shares are catching the eye on Wednesday. But why?

| More on:
A scientist in a white coat and glasses puts her arms in the air in a sign of strength and success.

Image source: Getty Images

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

There have been some big movers in the healthcare sector on Wednesday.

Here's why these ASX healthcare shares are up over 10% today:

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is up over 13% to $3.12. Investors have been buying this ASX healthcare share today after it released a quarterly update. Mayne Pharma reported an improved performance during the quarter, with all segments delivering a positive contribution margin. This led to quarterly sales of $92.3 million, a gross margin of 58%, and a cash EBITDA loss of $1.7 million. As a comparison, in the fourth quarter, Mayne Pharma reported sales of $68.2 million, a gross margin of 43%, and a cash EBITDA loss of $19.5 million.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is up 22% to 77 cents. This follows the release of an update on the biopharmaceutical company's injectable pentosan polysulfate sodium (iPPS) treatment. The release notes that iPPS increases cartilage thickness at six months in participants with knee osteoarthritis compared to cartilage loss in placebo group. Management believes the results indicate a treatment effect on osteoarthritis beyond the relief of symptoms and "supports iPPS as a blockbuster opportunity."

Starpharma Holdings Ltd (ASX: SPL)

The Starpharma share price is up 11% to 5 cents. This morning, this ASX healthcare share reported that its DEP cabazitaxel phase two clinical trial met its objectives. Endpoints demonstrated positive antitumour efficacy in multiple cancers and confirmed the product's favourable safety and tolerability profile. Management believes the promising efficacy results in advanced prostate, ovarian, and gastro-oesophageal cancers create a significant market opportunity for DEP cabazitaxel.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Starpharma. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Healthcare Shares

Excited couple celebrating success while looking at smartphone.
Healthcare Shares

Guess which ASX 200 stock just jumped 9% on big news

Let's find out what is getting investors excited today.

Read more »

Male doctor in a lab coat working at laptop looking serious.
Healthcare Shares

What are Cochlear shares worth according to Macquarie?

Let's see what the broker is saying about this blue chip.

Read more »

Shot of a mature scientists working on a laptop in a lab.
Healthcare Shares

When will CSL shares finally catch a break?

Here's where analysts think the biotech stock is heading next.

Read more »

An analyst wearing a dark blue shirt and glasses sits at his computer with his chin resting on his hands as he looks at the CBA share price movement today
Healthcare Shares

JP Morgan initiates coverage of Telix Pharmaceuticals. After rising 1,667% in 5 years, is it still a buy?

Can this ASX 200 juggernaut go higher?

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

Why this top broker expects CSL shares to surge 26%

A leading broker foresees a big rebound ahead for CSL shares. But why?

Read more »

Man jumps for joy in front of a background of a rising stocks graphic.
Healthcare Shares

Guess which ASX All Ords stock is jumping on big US news

This small cap is catching the eye on Thursday. But why?

Read more »

three excited doctors with hands in the air
Healthcare Shares

Two ASX healthcare shares that could be set to double

This broker has buy recommendations on these two shares. 

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Healthcare Shares

Telix shares jump 7% on big US news

Let's see what is getting investors excited on Wednesday.

Read more »