Morgans says cryopreservation company Vitrafy Life Sciences Ltd (ASX: VFY) is at a crucial juncture in its development, with success likely to unlock significant value.

Vitrafy shares are already up 163% on a 12-month basis, but Morgans has an even more bullish price target on the company which I’ll get to shortly.

Firstly, let’s have a look at the business.

Major developments over the past year

Vitrafy said in its recently-released annual report that while it remained an early-stage business, progress made during the year had, “materially strengthened the foundation for the Company’s future”.

The company’s technology involves software and controlled freezing techniques, which it says “preserves biomaterial value, enhances reproducibility, and streamlines cryopreservation workflows at scale”.

The company said further in its annual report:

The clear highlight of the year was the successful completion of our Phase II in-vitro platelet study with the U.S. Army Institute of Surgical Research (“USAISR”), part of the Defense Health Agency. Conducted across 20 donors at commercial volumes — our largest blood testing program to date — the study found that every protocol tested using the Vitrafy ecosystem met or exceeded the relevant regulatory and quality guidelines for platelet use. Our simplified “no-wash” protocol achieved a mean post-thaw platelet recovery of 94%, outperforming the wash-based standard on platelet recovery, clot strength and the retention of the platelet receptors critical to clotting function.

Vitrafy said its technology could provide “surge capacity” in settings where a reliable supply of platelets was constrained, such as regional hospitals, emergency response, or battlefield environments.

The company added:

With no FDA-approved no-wash cryopreserved platelet product currently available in the United States, the Board believes these results position Vitrafy to address a genuine unmet market need with a differentiated, first-line offering, supported by independent U.S. Army validation.

Vitrafy in FY26 grew revenues 80% to $3.6 million and made a net loss of $16.2 million.

Shares looking cheap, broker says

Morgans said in a research note to clients that the company had spent the year “turning a single commercially unproven cryopreservation platform into three separate, partially validated commercial pathways”.

The broker said this current year would turn on whether those pathways could be converted into material contracts.

They added:

Commercial success is far from a foregone conclusion, but strong scientific data, a forced re-equipment cycle, and a funded runway make VFY a viable contender, in our view, to become the replacement standard in US frozen blood infrastructure, with Cell and Gene Therapy (CGT) and animal reproduction providing optionality on top of that core case.

Morgans has a 12-month price target of $5.06 on Vitrafy shares, compared with $3.43 currently.

Vitrafy is valued at $213.8 million.

The post This ASX biotech could rise almost 50%, Morgans says appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England 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.

Northern Star Resources Ltd (ASX: NST) shares are charging higher on Wednesday morning.

The Northern Star share price is currently up 8.12% to $25.18, after closing yesterday at $23.29.

At one stage, the gold miner climbed as high as $25.59, taking its gains over the past week to almost 15%.

There hasn’t been a new announcement from Northern Star today.

Instead, investors are reacting to reports that Gold Fields Ltd (NYSE: GFI) could sweeten its takeover proposal after being rejected.

Gold Fields may come back with more cash

The latest development comes after Northern Star revealed on Monday that it had rejected a $38.7 billion takeover proposal from Gold Fields.

The offer would have given Northern Star shareholders 0.3125 new Gold Fields shares and $7.25 cash for each share they owned.

That valued Northern Star at $27 per share when the proposal was made on 14 September, representing a 22% premium to its previous closing price.

However, around 73% of the consideration was made up of Gold Fields shares.

Northern Star wasn’t interested, arguing the proposal materially undervalued the company and would expose shareholders to greater jurisdictional and operational risks.

But Gold Fields doesn’t appear ready to walk away.

Bloomberg reports the South African miner is considering increasing the cash component of its proposal as it looks for a way to win over Northern Star’s board.

No decision has been made, and there’s no guarantee another proposal will arrive.

Still, today’s share price reaction suggests investors are betting that the first offer may not be the last.

Why does Gold Fields want Northern Star?

There is a pretty clear reason Gold Fields is interested.

The two miners have significant operations in Western Australia, creating plenty of opportunities to cut costs and make better use of existing infrastructure.

Gold Fields believes a combination could deliver between US$4 billion and US$5 billion in synergies.

The combined company would produce around 4.1 million ounces of gold annually.

That would make it the world’s second-largest gold producer behind Newmont Corp (ASX: NEM).

What happens next?

I think the next move from Gold Fields will be worth watching closely.

Northern Star has made it clear that $27 per share, with most of the consideration in Gold Fields shares, isn’t enough.

But with Northern Star shares now trading above $25, the gap between the market price and the rejected offer has narrowed considerably.

If Gold Fields wants to get Northern Star’s board to the negotiating table, it may need to put more cash and a higher price on the table.

And judging by today’s 8% jump, investors seem to think there’s a decent chance it will.

The post Why are Northern Star shares rocketing 8% on Wednesday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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.

Commonwealth Bank of Australia vs ANZ shares

Looking for a steady stream of passive income from ASX bank shares? Commonwealth Bank of Australia (ASX: CBA) and ANZ Group Holdings Ltd (ASX: ANZ) are two of Australia’s banking heavyweights, but they aren’t identical when it comes to dividend income, value, or recent momentum. Here’s my take on which could come out on top for investors chasing reliable returns and regular dividends.

The case for Commonwealth Bank of Australia

Commonwealth Bank of Australia, or CommBank, is a true giant in Australian banking. It’s not only the largest of the big four by market capitalisation, but also one of the most recognisable brands in the country. CBA’s operations stretch beyond Australia, with a presence in New Zealand, the UK, the US, as well as several Asian markets. The company’s product suite covers everything from day-to-day banking through to superannuation, insurance, and wealth management offerings.

A couple of numbers really stand out:

• As of the latest data, CBA’s market cap sits at a whopping $253.56 billion, making it one of the ASX’s biggest blue-chips.
• It boasts a fully franked dividend yield of 3.35%. Every dollar you receive from CBA’s $5.05 per share dividend can be boosted by franking credits, making it an appealing income stock, especially for those who can make use of the credits.
• The shares trade on a price-to-earnings (P/E) ratio of 23.14. By big bank standards, that’s at the higher end, but CBA does have a reputation for quality and steady profits.

The company’s long-term dividend history is a feature, with consistent, fully franked payouts stretching back decades.

The case for ANZ

ANZ is no minnow itself – it’s a banking powerhouse spanning Australia, New Zealand, and about 30 other markets. Like CBA, ANZ caters to a huge base of retail, business, and institutional customers, and its international focus means it’s well diversified for an Australian bank.

Here are the highlights I notice:

• ANZ currently offers a market capitalisation of $115.90 billion, making it a significant player, though not in CBA’s league on pure size.
• Its dividend yield is a healthy 4.39%, notably higher than CBA’s. However, recent dividends have only been 75% franked, so the after-tax benefits for certain investors may be less than a fully franked rival.
• ANZ shares change hands at a P/E ratio of 19.18, which is lower than CBA’s. This could appeal to bargain-hunters or income investors keen on getting more yield for each dollar invested.

While ANZ’s trailing dividend is lower than pre-pandemic years and its franking has varied, it remains a popular option for dividend-focused portfolios.

Valuation comparison

Given both sit within the big four banks, it makes sense to hold them up side-by-side. Here are the main numbers at a glance:

	Commonwealth Bank	ANZ
Market Cap	$253.56 billion	$115.90 billion
P/E Ratio	23.14	19.18
Dividend Yield	3.35% (100% franking)	4.39% (75% franking)
Earnings Per Share	6.517	1.973
Dividend Per Share	$5.05	$1.66

Note: Franking levels for ANZ have recently shifted between 56% and 100%, with the most recent payout at 75%.

Also, ANZ’s reported P/E ratio and EPS figure may reflect different earnings measures, so don’t expect those numbers to tally up precisely for valuation comparisons.

Recent share price performance

Comparing recent share price action up to 25 September 2026:

• Commonwealth Bank closed at $150.83 per share as of 25 September 2026, a modest rebound from its recent soft patch, though it’s down -2.92% year-to-date.
• ANZ closed at $37.84 per share on 25 September 2026, having logged a strong year-to-date gain of 6.41%.

Which is the better buy?

For passive income, my nod goes to ANZ. The headline dividend yield is higher at 4.39%, and it comes at a lower P/E compared to Commonwealth Bank. While CBA’s dividends are 100% franked (a huge plus for maximising after-tax returns, especially for retirees or those on lower tax rates), ANZ’s yield advantage is big enough to matter, even with only 75% franking on the latest payout.

ANZ has also shown better share price momentum this year, adding to its appeal for income-focused investors who care about capital preservation or mild growth on top of regular payments.

CBA still has a lot going for it – size, brand, consistency and the comfort of fully franked dividends. But given ANZ’s relatively strong yield and value stats, I’d lean toward ANZ as my pick right now for those seeking the best blend of dividend income and reasonable valuation in the banking sector.

The post Commonwealth Bank vs ANZ: Which is better for passive income? appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.