The ASX is home to a small but vibrant and growing biotechnology sector. There are a number of providers that are making significant inroads on a global scale.

Here we examine 3 ASX biotech shares that have all seen strong share price rises today.

Zoono Group Ltd (ASX: ZNO)

The Zoono share price is up by a whopping 17% so far today. This strong rise is on the back of a solid rally in its share price last week.

From the beginning of last week, it has risen from $1.875 to its current price of $2.39. That’s an impressive gain of 27%.

Zoono produces antibacterial skin and surface sanitisers. It has seen strong demand for its products since January. Its sanitisers haven been tested on the coronavirus and have achieved a 99.9% efficacy.

In a recent update, Zoono revealed invoiced sales of over NZ$11.0 million (unaudited) for the month of April.

The company has recently signed new distribution agreements in the UK and Europe. Zoono also reported strong sales in India and China, and has a new distributer in Hong Kong.

Paradigm Biopharmaceuticals Limited (ASX: PAR)

Paradigm focuses on the treatment of osteoarthritis. This is the most common joint disorder in the United States (US).

The ASX biotech share has risen by a significant 7% today (at the time of writing). This is on the back of strong share price rally since late April.

Paradigm’s primary activity involves repurposing the drug pentosan polysylphate sodium (PPS) in injectable form through a drug called Zilosul. Zilosul has been registered in 4 of the 7 global pharmaceutical markets.

Paradigm has been conducting a trial into the use of Zilosul through the FDA’s expanded access program.  Trials so far have reduced chronic pain by around 45%, which is very promising.

In early April, Paradigm conducted a $35 million institutional placement. It has reported it is in a strong cash position following this capital raise. The biotech company believes that this will fully fund its current work until the completion of its trials.

Opthea Ltd (ASX: OPT)

Opthea is a biotechnology company that develops new drugs for the treatment of eye diseases. Its share price is up by 11% today, which follows a strong rally in its share price since mid-March.

Opthea conducted a trial of its core drug OPT-302 last year. These trials indicated that it was capable of delivering significant vision improvement to patients. The company reported that the trials indicated the successful halting of the progression of the disease.

Opthea currently has a very strong balance sheet and it looks to be well-funded to carry it through its trials.

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Motley Fool contributor Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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With so many shares to choose from on the S&P/ASX 200 Index (ASX: XJO), it can be hard to decide which ones to buy.

The good news is that brokers across the country are doing a lot of the hard work for you.

Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Appen Ltd (ASX: APX)

According to a note out of UBS, its analysts have retained their buy rating and $32.00 price target on this artificial intelligence company’s shares. The broker was pleased with Appen’s latest update and feels there is upside risk to its earnings guidance for FY 2020. It was also pleased with management’s commentary around its near term prospects. I agree with UBS and feel Appen would be a great buy and hold option for investors.

Austal Limited (ASX: ASB)

Analysts at Citi have retained their buy rating and lifted the price target on this shipbuilder’s shares to $4.05. The broker made the move after Austal upgraded its FY 2020 guidance. In addition to this, Citi believes that its guidance could still be conservative. Outside this, the broker likes Austal due to its opportunities in autonomous vehicles and also in the Philippines. I think Citi makes some good points and it could be worth considering.

Super Retail Group Ltd (ASX: SUL)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this retailer’s shares to $9.00. The broker’s research indicates that the company’s Rebel and Supercheap Auto businesses may be performing well during the pandemic. While Super Retail Group isn’t my top pick in the retail sector right now, I think its shares could be worth a closer look at this level.

More reading

• The latest ASX 200 stocks to be upgraded by top brokers
• How bankable are the big four ASX bank shares in 2020?
• The Appen share price smashed the market in May: Is it too late to buy?
• Why Nearmap’s share price surged by 50% in May
• ASX 200 up 0.6%: NAB charges higher, ACCC investigates Qantas acquisition

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Austal Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of Appen Ltd. 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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