Why IDP Education, Novonix, PYC, and Regis Resources share are racing higher

These shares are ending the week strongly. Here's what you need to know.

| More on:
Woman looks amazed and shocked as she looks at her laptop.

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

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. In afternoon trade, the benchmark index is up 0.4% to 7,853.5 points.

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

IDP Education Ltd (ASX: IEL)

The IDP Education share price is up 4.5% to $15.16. Bargain hunters have been buying the language testing and student placement company's shares after they were sold off again this week following a poor update. Analysts at Goldman Sachs think investors should be snapping them up while they are down. This morning, the broker reiterated its buy rating with a trimmed price target of $21.75. This implies potential upside of over 40% for investors from current levels.

Novonix Ltd (ASX: NVX)

The Novonix share price is up almost 8% to 69.5 cents. This morning, this battery materials company returned from a trading halt after denying that it is planning to launch a capital raising in the near future. Management stated that its capital position is strong and one is not required. It said: "NOVONIX Limited refers to the article published in the Australian Financial Review speculating that NOVONIX will undertake a capital raising. NOVONIX wishes to advise that it has considered its position and is not undertaking an equity capital raising at this time and that its capital position remains strong."

PYC Therapeutics Ltd (ASX: PYC)

The PYC Therapeutics share price is up 10% to 11 cents. Investors have been buying the clinical-stage biotechnology company's shares after an update on its drug discovery program, which is directed towards a severe neurodevelopmental disorder known as Phelan McDermid Syndrome (PMS). It notes that PMS is caused by a loss of one functional copy of the SHANK3 gene, resulting in insufficient SHANK3 protein expression in brain cells known as neurons. This morning, PYC revealed that it has been able to restore the missing SHANK3 protein. The company will now progress towards initiating the studies required to enter human trials. This is anticipated to commence in 2025.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 3.5% to $1.92. Investors have been buying Regis Resources and other ASX gold shares today after the precious metal charged to a two-week high overnight on rate cut hopes. This has led to the S&P/ASX All Ordinaries Gold index outperforming on Friday afternoon with a 1.7% gain.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

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 Goldman Sachs Group and Idp Education. 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 Share Gainers

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

These were the best-performing ASX 200 shares in April

These shares were in fine form in April. Let's see why they outperformed.

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX made it three from three.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Cedar Woods, Orthocell, PEXA, and St Barbara shares are storming higher today

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

Read more »

Three happy team mates holding the winners trophy.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX 200 continued its good form this Tuesday.

Read more »

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

Why Beach Energy, Boss Energy, Fortescue, and Mineral Resources shares are racing higher

These shares are rising more than most on Tuesday. But why?

Read more »

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

Here are the top 10 ASX 200 shares today

Investors started the week on a strong footing today.

Read more »