3 ASX All Ordinaries shares hitting multi-year highs on Tuesday

The All Ordinaries Index (ASX: XAO) is kicking off this Tuesday’s session on a very positive note so far. At the time of writing, the All Ords has gained a healthy 0.4%, putting it back over 7,375 points.

But for some ASX all Ords shares, it’s been an even better day. So let’s talk about three All Ords shares that just clocked new, multi-year highs.

3 ASX All Ords shares hitting new highs today

Neuren Pharmaceuticals Ltd (ASX: NEU)

Neuren Pharmaceuticals is our first All Ords share to check out. Neuren is having a pretty fabulous day. The company is presently up a decent 1.64% at $8.67 a share.

But this morning, Neuren shares spiked as high as $8.80 each. That is not only a new 52-week high for the Neuren Pharmaceuticals share price, but the highest Neuren has traded since way back in early 2007.

Yes, Neuren is trading at a post-GFC high today. Neuren shares are now up more than 120% year to date. It’s not hard to see why.

In a quarterly update last month, Neuren announced a new drug has been approved by the US Food and Drug Administration (FDA). The company is anticipating revenue from this new drug alone of $112 million in 2023.

New Energy Solar Ltd (ASX: NEW)

New Energy Solar is another All Ords share blazing new highs today. This solar company opened at 98 cents a share this morning but soon climbed as high as $1 a share, a new 52-week high for New Energy Solar.

New Energy Solar has been at these levels before. But the last time was back in early 2020, making today’s new 52-week high a multi-year high as well.

This could have been spurred by a few things. Yesterday, New Energy Solar informed investors that the company’s net asset value per share stood at $1.06, meaning the shares are trading under what they are theoretically worth right now.

Further, New Energy Solar is planning a significant capital return soon, which could also be boosting investor sentiment.

Myer Holdings Ltd (ASX: MYR)

Our last All Ords share to check out is a famous ASX name in Myer.

The Myer share price has staged a fairly remarkable recovery over the year so far. Myer shares are up a pleasing 58% this year to date, and up more than 140% from the June 52-week low of 30 cents.

This morning, Myer climbed as high as 74 cents each. That’s the highest Myer has traded at in almost five years.

As my Fool colleague James flagged yesterday, this could be a result of the news that Myer’s arch-rival David Jones is a potential takeover target at the moment.

The post 3 ASX All Ordinaries shares hitting multi-year highs on Tuesday appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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.

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