Top Performing ASX Companies

ASX-listed life science companies report a new market capitalisation of $252 billion, with Singular Health (ASX:SHG) topping return rankings for Q1, while Biome Australia (ASX:BIO) and Arovella Therapeutic (ASX:ALA) lead in earnings for 2024.

AusBiostock data (March 2024) reveals the 178 ASX-listed life science companies have grown the market capitalisation by $21 billion over the past six months from $231 billion to $252 billion, highlighting the life science sector’s growing economic contribution to the Australian economy.

The data also shows seven percent of listed companies have a market cap of more than $1 billion, while 30 percent of companies are worth more than $100 million. Identified as a key metric in AusBiotech’s Biotechnology Blueprint decadal strategy, the proportion of biotech companies achieving market valuations greater than $100 million measures the industry’s ability to create companies of significant future value.

Biome Australia is reported as the top earner for the year, with a reported share price of $0.39 (as at 8 March 2024) and a market return of 457.14 percent (see full data below). Biome Australia’s share price has jumped from $0.080 to $0.39 over 12 months when comparing April 2023 and March 2024 AusBioStocks data.

Q1 2024 has revealed medical technology company Singular Health topped the rankings with a quarterly return of 237.84 percent, followed by Nyrada Inc (ASX:NYR) at 207.69 percent, PharmAust Ltd (ASX:PAA) at 166.67 percent, Biome Australia at 143.75 percent, and Dimerix Ltd (ASX:DXB) at 122.22 percent.

The variability in the returns listings between Q1 2023 versus 2024 demonstrates the unique nature of biotech investment and global market conditions. 2024 has been a positive year so far for healthcare as the S&P/ASX 200 Health Care index climbed 5 percent, reinforcing the sector’s resilience.

The medical technology sector has been a strong driver for the market with companies such as Pro Medicus Ltd (ASX:PME) and Cochlear Ltd (ASX:COH) both enjoying significant share price increases. Most analyst reports are bullish on healthcare for FY 2025, with strong indications that healthcare could “outperform over the medium-term”, with the combination of strong earnings growth, and below-market valuations.

Past performance is not indicative of future returns. This article provides general information about the performance of ASX-listed biotech companies from the period 8 March 2024 to 18 April 2023. It does not constitute personalised investment advice or a recommendation to make any specific investments. All investors should conduct their own due diligence and consult a registered financial advisor before making investment decisions.

AusBiotech invites qualified investors, including venture capital firms, private equity investors, high-net-worth individuals, research analysts, brokers, and family offices, to access their complimentary tickets to attend AusBioInvest 2024, providing them with a valuable opportunity to make meaningful connections with companies, hear the latest market updates, and explore potential investment prospects. Register your interest here.

Biotech companies are also being invited to register their interest here to pitch at AusBioInvest to a global audience of investors, industry executives, and key stakeholders.