The S&P/ASX 200 Index (ASX: XJO) is on course to start the new financial year with a solid gain. At the time of writing the benchmark index is up 0.65% to 5,936.2 points.
Four shares that have climbed more than most today are listed below. Here’s why they are surging higher:
The Alterity Therapeutics Ltd (ASX: ATH) share price has rocketed an incredible 1,841% to 33 cents. Investors have been scrambling to buy the biotech company’s shares after it revealed that its meeting with the U.S. FDA has provided it with a development pathway for its ATH434 candidate. ATH434 is the company’s lead compound for the treatment of Multiple System Atrophy (MSA), a Parkinsonian disorder.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has jumped 4.5% to $11.61. This morning the travel agent announced that it has secured access to a debt facility of up to 65 million pounds. These funds will be draw down if and when it is necessary to offset the coronavirus’ impact on its United Kingdom-based operations. The funding has been made available to the company via the Bank of England’s COVID Corporate Financing Facility.
The NEXTDC Ltd (ASX: NXT) share price has surged 6.5% higher to $10.53 after announcing major new contract wins in New South Wales. According to the release, the company’s contracted commitments at its New South Wales data centre facilities have now increased by approximately 4MW, to more than 36MW. And including expansion options, its data centres in the state are now approaching a sizeable 60MW.
The Telix Pharmaceuticals Ltd (ASX: TLX) share price has jumped 16.5% to $1.49. The catalyst for this gain was an announcement which reveals that the U.S. FDA has granted Breakthrough Therapy designation for Telix’s renal cancer imaging product TLX250-CDx. The FDA will work closely with Telix to provide guidance on the development of TLX250-CDx for the diagnosis of indeterminate renal masses that have been identified on CT or MRI imaging.
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- These were the worst performing ASX 200 shares in FY 2020
- NEXTDC share price jumps 8% on new contract wins
- Flight Centre share price on watch after new funding deal
- Webjet and these shares were the worst performers on the ASX 200 in June
- Top ASX Stock Picks for July 2020
Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited and TELIXPHARM DEF SET. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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