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 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 .

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