The ASX Health Index climbed by 3% in January
Alliance Bernstein says be careful choosing the right health stocks this year
We look at the ASX health stock winners for January
The S&P/ASX 200 Health Care [XHJ] continues to bounce back, finishing January around 3% higher.
Source: Google
The XHJ index finished 4% higher in 2023, but still trailed the broad benchmark – the ASX 200 index – which gained 9%.
In general, healthcare stocks have underperformed the global market in 2023.
There are few reasons why that happened, but higher interest rates and the market’s obsession with AI-related stocks were two main ones.
Within the healthcare sector itself, there are also major disparities between different segments.
For example, pharmaceuticals and health tech companies have declined modestly, but those in life-sciences or drugs development fell drastically last year.
So what do health investors need to look for in 2024?
According to a note from Alliance Bernstein (AB), investors can find attractively valued health stocks this year by focusing on those that benefit from durable business growth trends.
“These include diagnostics and life-sciences companies that help improve early detection of diseases, and technology companies, which may benefit from introducing AI-driven solutions to healthcare,” said AB.
AB also said that many growth trends in the healthcare sector are driven by the need for efficiency and cost savings in healthcare systems.
“As a result, we think these trends will persist over time, and are unlikely to be derailed by macroeconomic weakness.
“The key to success for equity investors, in our view, is to invest in business, not science.
“That means investors should search for healthcare companies with high-quality businesses and avoid predicting the outcomes of scientific research and development, which is notoriously hard to do.
“Healthcare companies like these are well-equipped to overcome short-term market weakness, and provide equity investors with innovative sources of consistent growth for challenging conditions ahead. “
Here are the ASX Biotech Winners for January 2024
Code Name Price % Month Change Market Cap SHG Singular Health 0.094 147.37 $13,283,165 PAA Pharmaust Limited 0.200 66.67 $75,068,291 ACR Acrux Limited 0.072 63.64 $20,274,169 CMP Compumedics Limited 0.390 39.29 $69,093,550 ACW Actinogen Medical 0.030 36.36 $73,833,923 LBT LBT Innovations 0.015 36.36 $18,901,067 MDR Medadvisor Limited 0.290 34.88 $159,461,104 ALA Arovella Therapeutic 0.150 30.43 $137,752,185 NTI Neurotech Intl 0.090 30.43 $80,314,973 CU6 Clarity Pharma 2.420 27.37 $637,684,639 CTE Cryosite Limited 0.725 19.83 $35,386,933 AVH Avita Medical 5.060 17.95 $307,260,278 PNV Polynovo Limited 1.933 16.77 $1,314,893,391 RMD ResMed Inc. 29.085 14.33 $17,636,157,905 EBR EBR Systems 0.695 13.93 $211,844,323 TLX Telix Pharmaceutical 11.375 12.85 $3,770,862,646 EMV Emvision Medical 1.910 12.68 $144,220,657 EYE Nova EYE Medical Ltd 0.270 12.50 $52,426,246 PAB Patrys Limited 0.009 12.50 $18,517,026 RHY Rhythm Biosciences 0.135 12.50 $27,642,824 CYP Cynata Therapeutics 0.140 12.00 $25,148,450 IMR Imricor Med Sys 0.615 11.82 $103,884,652 TRP Tissue Repair 0.245 11.36 $13,672,963 MVP Medical Developments 0.850 11.11 $73,790,962 AGN Argenica 0.565 10.78 $56,020,214 MVF Monash IVF Group Ltd 1.438 10.58 $553,281,473 FCG Freedomcaregrouphold 0.160 10.34 $3,940,845 GSS Genetic Signatures 0.480 10.34 $91,376,495 MX1 Micro-X Limited 0.115 9.52 $54,476,139 PIQ Proteomics Int Lab 0.980 9.50 $126,965,838 AT1 Atomo Diagnostics 0.024 9.09 $14,701,653 GLH Global Health Ltd 0.130 8.33 $6,385,449 AHX Apiam Animal Health 0.310 6.90 $54,901,661 LDX Lumos Diagnostics 0.078 6.85 $36,097,503 CAJ Capitol Health 0.250 6.38 $266,452,351 EBO Ebos Group Ltd 34.910 6.21 $6,679,211,573 SNZ Summerset Grp Hldgs 9.900 6.11 $2,272,529,405 PME Pro Medicus Limited 101.380 5.79 $10,567,740,576 ZLD Zelira Therapeutics 0.950 5.56 $9,815,289 DOC Doctor Care Anywhere 0.065 4.84 $23,831,746 VLS Vita Life Sciences.. 1.865 4.78 $102,046,010 TRU Truscreen 0.022 4.76 $9,240,557 NYR Nyrada Inc. 0.023 4.55 $3,588,200 SIG Sigma Health Ltd 1.050 4.48 $1,615,547,474 ACL Au Clinical Labs 3.010 4.15 $613,575,406 VTI Vision Tech Inc 0.260 4.00 $11,785,224 CSL CSL Limited 298.020 3.97 $143,353,093,082 IDX Integral Diagnostics 1.970 3.41 $464,605,238 AFP Aft Pharmaceuticals 3.360 3.38 $352,350,634 MAP Microbalifesciences 0.180 2.86 $71,967,719 DXB Dimerix Ltd 0.210 2.44 $95,336,015 ONE Oneview Healthcare 0.240 2.13 $170,698,654 PEB Pacific Edge 0.100 2.04 $81,127,134 FRE Firebrickpharma 0.051 2.00 $9,305,230 REG Regis Healthcare Ltd 3.300 1.54 $984,384,185 IXC Invex Ther 0.082 1.23 $6,162,616 COH Cochlear Limited 302.300 1.22 $19,737,955,109 FPH Fisher & Paykel H. 22.030 0.92 $12,946,474,830 VHT Volpara Health Tech 1.115 0.91 $283,627,353 SDI SDI Limited 0.730 0.69 $86,771,837 SHL Sonic Healthcare 32.220 0.44 $15,350,166,748 AC8 Auscann Grp Hlgs Ltd 0.040 0.00 $17,621,884 AGH Althea Group 0.039 0.00 $15,445,714 ATX Amplia Therapeutics 0.080 0.00 $15,520,512 CBL Control Bionics 0.046 0.00 $7,851,350 CDX Cardiex Limited 0.121 0.00 $17,354,743 DVL Dorsavi Ltd 0.012 0.00 $7,159,939 EPN Epsilon Healthcare 0.024 0.00 $7,208,496 IMM Immutep Ltd 0.345 0.00 $416,092,096 JTL Jayex Technology Ltd 0.009 0.00 $2,531,507 MDC Medlab Clinical Ltd 6.600 0.00 $15,071,113 NC6 Nanollose Limited 0.022 0.00 $3,495,500 PER Percheron 0.059 0.00 $54,092,698 SNT Syntara Limited 0.020 0.00 $15,794,954 TD1 Tali Digital Limited 0.001 0.00 $3,295,156 UCM Uscom Limited 0.041 0.00 $7,811,876 VBS Vectus Biosystems 0.300 0.00 $15,962,808 VFX Visionflex Group Ltd 0.008 0.00 $11,335,930
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SHG has been riding high since announcing a binding enterprise licence order for 5,000 annual licences of the 3Dicom Patient software in the US.
The licences were purchased by TechWorks 4 Good on behalf of US Veterans, to enable greater understanding and portability of medical records of Vets.
Whilst details of the deal is confidential, SHG said that the revenue generated from this order exceeds the total direct-to-consumer sales of the 3Dicom software in the 2023 calendar year of ~$50,000 by more than 40%.
The company’s shares are currently on voluntary trading halt until February 2 pending an announcement.
PharmAust has received approval for an Open-Label Extension study of monepantel, in patients with Motor Neurone Disease (MND)/Amyotrophic Lateral Sclerosis (ALS).
All Phase 1 MEND Study patients have expressed interest in continuing treatment and participating in the study. The study is expected to commence in February.
Read more here: PharmAust gets ethics committee green light for open-label MND extension study
Compumedics has also been in the winners’ circle after saying that it expects strong results for H1.
Unaudited revenues for H1 FY24 are expected to be a record H1 result of approximately $26m, 35% higher than pcp.
Sales orders taken for H1 FY24 were also a record H1 result of $30.3m, which is 74% higher than pcp. Compumedics expects to return to profitability in H1 FY24
ACW has enjoyed a solid run off the back of news that a human Positron Emission Tomography (PET) study, confirming high levels of the company’s Xanamem target occupancy in the brain at safe, well tolerated, and biologically active doses, has been published in the Journal of Alzheimer’s Disease.
The company says the study confirms that Xanamem is a brain-penetrant inhibitor of the tissue cortisol synthesis enzyme, 11β-HSD1, with high levels of target occupancy at doses as low as 5mg.
LBT has been rising since its AGM in late November, where management provided an update on the company’s goals in 2024.
LBT CEO Brent Barnes said the expectations in 2024 include completion of the product development project with AstraZeneca, with a global rollout in second half of the year.
In January, the microbiology diagnostic equipment manufacturer announced a partnership with AstraZeneca and Thermo Fisher to speed up the development of LBT’s APAS AI software platform for microbial testing in the pharmaceutical sector.
MedAdvisor delivered strong H1 FY24 growth of 18%, with operating revenue of $75.5 million, exceeding its guidance range of 10-15% growth.
In Q2, MDR saw continued diversification across its vaccine and chronic disease programs in both ANZ and the US.
Demand for digital patient engagement solutions from pharmaceutical manufacturers also remained strong, supported by a solid pipeline for digital programs from a diversifying client base.
Arovella has entered into a global, exclusive licence with University of North Carolina Lineberger Comprehensive Cancer Center to incorporate the novel armouring cytokine technology (IL-12-TM) for its CAR-iNKT cell platform.
The technology was developed by Professor Gianpietro Dotti, a pioneer of CARiNKT cells, and was recently published in the prestigious peer-reviewed journal Nature Communications.
When the IL-12-TM technology was tested on mice with neuroblastoma, and the mice were assessed four weeks after dosing, investigators found that CAR-iNKT cells containing IL-12-TM were at much higher numbers in the bloodstream (>10 times) than CAR-iNKT cells that did not contain IL-12.
Investigators also found that approximately 75% of the mice were still alive 60 days after treatment for the IL-12-TM group, while all mice in the group treated with CAR-iNKT cells lacking IL-12 had died.
And here are the ASX Biotech Losers for January 2024
Code Name Price % Month Change Market Cap ME1 Melodiol Glb Health 0.017 -57.50 $4,019,500 IBX Imagion Biosys Ltd 0.165 -53.52 $5,713,146 CVB Curvebeam Ai Limited 0.250 -39.76 $55,755,071 EOF Ecofibre Limited 0.105 -34.38 $37,887,390 NAN Nanosonics Limited 2.930 -33.41 $890,318,339 BP8 Bph Global Ltd 0.001 -33.33 $1,835,563 ICR Intelicare Holdings 0.016 -33.33 $3,757,192 AHI Advanced Health 0.084 -32.80 $20,521,387 AMT Allegra Medical 0.031 -31.11 $3,707,942 IRX Inhalerx Limited 0.020 -31.03 $3,795,339 ARX Aroa Biosurgery 0.575 -30.72 $212,933,669 PYC PYC Therapeutics 0.077 -30.00 $283,697,902 ATH Alterity Therap Ltd 0.005 -28.57 $22,867,957 HMD Heramed Limited 0.017 -26.73 $5,461,491 MXC Mgc Pharmaceuticals 0.350 -26.32 $15,348,071 CHM Chimeric Therapeutic 0.026 -25.71 $21,874,753 ALC Alcidion Group Ltd 0.056 -25.33 $71,151,081 PAR Paradigm Bio. 0.318 -25.29 $131,470,941 AVE Avecho Biotech Ltd 0.003 -25.00 $11,092,540 HIQ Hitiq Limited 0.017 -22.73 $5,981,364 OSL Oncosil Medical 0.007 -22.22 $11,847,247 ADR Adherium Ltd 0.044 -21.43 $17,005,439 TRI Trivarx Ltd 0.024 -20.00 $8,113,888 OSX Osteopore Limited 0.036 -18.18 $5,577,071 CAN Cann Group Ltd 0.080 -17.53 $34,205,823 IIQ Inoviq Ltd 0.550 -17.29 $47,389,632 RAC Race Oncology Ltd 0.695 -17.26 $110,754,646 MEM Memphasys Ltd 0.010 -16.67 $13,438,587 OPT Opthea Limited 0.475 -16.67 $308,206,015 ENL Enlitic Inc. 0.725 -15.70 $52,067,506 4DX 4Dmedical Limited 0.605 -15.38 $242,347,956 AVR Anteris Technologies 16.250 -15.14 $287,116,388 GTG Genetic Technologies 0.115 -14.81 $12,695,897 MYX Mayne Pharma Ltd 5.270 -14.31 $450,893,726 CTQ Careteq Limited 0.025 -13.79 $5,888,682 HLS Healius 1.413 -13.61 $1,016,493,860 RNO Rhinomed Ltd 0.026 -13.33 $7,428,712 RSH Respiri Limited 0.026 -13.33 $27,556,592 MSB Mesoblast Limited 0.270 -12.90 $269,065,693 M7T Mach7 Tech Limited 0.690 -12.66 $168,868,733 1AD Adalta Limited 0.022 -12.00 $12,619,298 SPL Starpharma Holdings 0.150 -11.76 $61,769,664 NSB Neuroscientific 0.039 -11.36 $5,061,170 CGS Cogstate Ltd 1.285 -11.07 $233,919,133 RAD Radiopharm 0.066 -10.81 $26,844,416 TRJ Trajan Group Holding 1.105 -10.53 $168,959,854 IPD Impedimed Limited 0.130 -10.34 $263,030,030 1AI Algorae Pharma 0.009 -10.00 $16,612,402 IVX Invion Ltd 0.005 -10.00 $25,698,129 PTX Prescient Ltd 0.056 -9.68 $45,903,228 RCE Recce Pharmaceutical 0.485 -9.35 $103,378,695 CYC Cyclopharm Limited 1.750 -9.09 $167,961,942 BMT Beamtree Holdings 0.215 -8.51 $61,612,339 EZZ EZZ Life Science 0.595 -8.46 $26,690,625 AYA Artryalimited 0.220 -8.33 $16,909,533 RHT Resonance Health 0.055 -8.33 $24,579,111 BOT Botanix Pharma Ltd 0.175 -7.89 $265,784,353 HGV Hygrovest Limited 0.049 -7.55 $10,305,219 LGP Little Green Pharma 0.130 -7.14 $40,512,587 LTP Ltr Pharma Limited 0.325 -7.14 $22,881,784 OIL Optiscan Imaging 0.078 -7.14 $65,156,583 NOX Noxopharm Limited 0.066 -7.04 $19,287,705 PGC Paragon Care Limited 0.210 -6.67 $143,591,658 HXL Hexima 0.017 -5.56 $2,839,674 PCK Painchek Ltd 0.035 -5.41 $47,383,031 ILA Island Pharma 0.090 -5.26 $7,720,504 NEU Neuren Pharmaceut. 23.660 -5.25 $3,055,648,881 OCC Orthocell Limited 0.390 -4.88 $79,706,943 ANR Anatara Ls Ltd 0.021 -4.55 $3,525,768 CSX Cleanspace Holdings 0.315 -4.55 $25,515,172 IDT IDT Australia Ltd 0.105 -4.55 $36,905,344 IMU Imugene Limited 0.105 -4.55 $752,754,128 IME Imexhs Limited 0.640 -4.48 $27,268,923 NXS Next Science Limited 0.325 -4.41 $106,468,713 ECS ECS Botanics Holding 0.022 -4.35 $24,348,075 BDX Bcaldiagnostics 0.091 -4.21 $22,899,163 BIT Biotron Limited 0.093 -4.12 $85,716,173 VIT Vitura Health Ltd 0.245 -3.92 $141,089,078 EMD Emyria Limited 0.050 -3.85 $18,698,099 RHC Ramsay Health Care 50.690 -3.65 $11,531,387,469 ANN Ansell Limited 24.380 -3.18 $3,069,552,561 COV Cleo Diagnostics 0.170 -2.86 $10,374,000 AHC Austco Healthcare 0.195 -2.50 $56,390,913 CUV Clinuvel Pharmaceut. 15.600 -2.50 $774,466,322 UBI Universal Biosensors 0.195 -2.50 $44,597,581 IMC Immuron Limited 0.076 -1.30 $17,312,674 OCA Oceania Healthc Ltd 0.645 -1.15 $469,120,971 PBP Probiotec Limited 2.870 -1.03 $233,398,175 PSQ Pacific Smiles Grp 1.445 -1.03 $230,595,900 SOM SomnoMed Limited 0.495 -1.00 $53,752,741
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The post ASX Health Winners January: ‘Invest in business not science’, as SHG and PAA top winners list appeared first on Stockhead.
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