The Race Oncology Ltd (ASX: RAC) share price has shot out of the gates this morning on the back of positive clinical trial results.

Race Oncology shares opened 74.6% higher today and raced to an intra-day high of 60 cents in early trade – a 90.48% surge. Shares have slightly pulled back since and are sitting 65.08% higher at the time of writing at 52 cents.

Race Oncology is a pharmaceutical company with a focus on later-stage drug assets in the cancer field. Its flagship product is a cancer drug called Bisantrene. The company is currently pursuing a ‘5-Path’ clinical development strategy that involves parallel US and Australian clinical trials for Bisantrene in acute myeloid leukaemia (AML), breast cancer and ovarian cancer.

Why is the Race Oncology share price skyrocketing?

This morning, Race Oncology reported clinical data from the Phase II clinical trial of Bisantree conducted at Israel’s Sheba Medical Centre.

The open label, single agent trial studied 10 patients with relapsed or refractory AML who, on average, had failed three prior lines of treatment. Race Oncology stated that Bisantree was found to be “well tolerated” and after a single course of treatment, had an overall clinical response rate of 40%.

According to Race, relapsed or refractory AML remains a significant therapeutic challenge. While meaningful therapeutic gains have been achieved in recent years with the introduction of new targeted drugs, the company believes clinical outcomes are still unsatisfactory.

Commenting on the trial results, Professor Borje Andersson, chair of Race’s advisory board, said:

“Importantly, in this study we saw a meaningful reduction in leukaemic disease burden and an overall response rate in 40% of the patients. While we must study the drug further, it appears that with this kind of response, bisantrene based therapy may have potential to serve as an important bridge to an allogeneic stem cell transplantation in patients who otherwise have few therapeutic options.”

What next?

Executive chair Dr John Cullity also shared his thoughts, commenting: “This drug is talking to us. As this was an open label, single agent trial, we can be confident that it was the bisantrene exposure which generated the positive results.”

“The patient cohort had advanced AML and had previously failed an average of three lines of therapy, so they were always going to be tough to treat. A 40% overall response rate after only a single course of treatment markedly exceeds expectations. It’s a hugely promising result and one which reinforces our development plans for bisantrene.”

In line with Race’s ‘5-Path’ clinical development strategy, a follow-up study combining Bisantrene with other anti-leukemic drugs is currently in advanced planning.

The company will also hold an investor briefing to discuss the significance of the trial results in more detail on Wednesday, 17 June.

With a current share price of 52 cents, Race Oncology’s market capitalisation is sitting at around $60 million. So if you’re looking to invest in larger and more liquid companies, check out the top ASX growth shares in the report below.

More reading

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• ASX cannabis shares see mixed recovery
• 2 quality ASX 200 shares to buy for long-term growth
• Afterpay and Zip shares are rocketing higher today: Can they go even higher?
• Investing $1,000 into these ASX 200 shares could be a smart move

Motley Fool contributor Cathryn Goh 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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Looking for quality ASX 200 shares to buy right now?

Here are two of my top picks: Ansell Limited (ASX: ANN) and Sydney Airport Holdings Pty Ltd (ASX: SYD).

Although from very different industries, both companies are dominant in their operating markets. I also believe they both have strong, long-term growth prospects. As such, I feel they are well positioned for above average share price growth over the next five years.

Ansell

Ansell has proven to be one of Australia’s most successful companies for over a century. The company manufactures gloves and personal protective equipment for industrial and medical markets and its operations are underpinned by a strong research and development program.

Ansell has been experiencing very strong demand for some of its products during the coronavirus crisis. As revealed in a recent business update, sales of the company’s hand and body protection products have been extremely strong throughout the pandemic. These ranges of products are industry certified for protection against infections and viruses such as COVID-19. This robust demand during the pandemic has helped push the Ansell share price higher over the past few months.

Ansell has broad geographic diversity with sales operations across more than 50 countries. The company also has a number of new product lines that position it well for continued growth over the next few years. An increasing proportion of sales are being generated in emerging markets which, I believe, also strengthens Ansell’s growth prospects.

Ansell pays a forward annual dividend yield of 2.05%. In its latest business update, Ansell reiterated its FY 2020 earning per share guidance in the range of US112 cents to US122 cents.

Sydney Airport

The Sydney Airport share price has fallen by over 30% since mid-January. This is not surprising due to the sharp fall in traffic numbers resulting from government enforced travel restrictions. In its April traffic performance update, Sydney Airport revealed that total passenger traffic in April was down by 97.5%, compared to April 2019.

Notwithstanding this, I believe the company’s share selloff has been a bit overdone. As such, I feel this ASX 200 share could provide patient investors who have long-term investment horizons with a good buying opportunity.

In addition, the overall impact of coronavirus in Australia looks set to be less severe than first anticipated. Therefore, it appears likely the length of the lockdown period will be shorter than initially expected. This will hopefully see domestic passenger numbers start to pick up significantly in the months ahead. While it will take longer for international passenger numbers to pick up, they will eventually recover.

I believe Sydney Airport remains well positioned for strong growth over the next decade. It has a monopoly status in its market. Furthermore, once the COVID-19 crisis is over, I’m confident the long-term trend of rising passenger numbers driven by a rising population and growing tourism will continue.

More reading

• Why I would buy Wesfarmers and these ASX dividend shares
• ASX 200 falls 2%, ASX travel shares drop heavily
• ASX 200 Weekly Wrap: ASX bears take control as market volatility returns
• 2 top ASX dividend shares for income in 2020
• 2 quality ASX dividend shares to buy today

Motley Fool contributor Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell 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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The S&P/ASX 200 Index (ASX: XJO) has bounced back strongly on Tuesday and is up over 3% in early trade.

This follows a positive night of trade on U.S. markets which saw both the Dow Jones and Nasdaq indices recover from an early sell off to record solid gains.

While a large number of ASX 200 shares are pushing higher today, one standout has been the Afterpay Ltd (ASX: APT) share price.

In morning trade the payments company’s shares have rocketed almost 8% higher to a new record high of $55.19.

It isn’t just Afterpay on the rise today. The Zip Co Ltd (ASX: Z1P) share price is also up 8% to $6.26 at the time of writing. This puts it within sight of its record high of $6.97.

Today’s gains mean that Afterpay’s shares are now up 590% from their March low and Zip’s shares are up almost 500% from their March low.

This has been driven by impressive sales and customer growth by both companies and the avoidance of a deterioration in bad debt levels during the pandemic. These positive metrics appear to have convinced the market that their business models are far more robust that many gave them credit for.

Can Afterpay and Zip shares go higher?

While the short term performance of their shares is difficult to predict, I believe over the long term their shares can go materially higher from here.

Thanks to international expansion, the increasing popularity of the payment method, and their massive market opportunities, I feel both companies are well-positioned to deliver very strong sales growth for many years to come.

Though, given the premium their shares trade at and the risks involved, I would suggest investors try to limit an investment in either of their shares to just a small part of a balanced portfolio.

I’m not alone in thinking they could be good options for investors. Earlier this month Morgans placed an add rating and $7.00 price target on Zip’s shares and Bell Potter put a buy rating and $65.00 price target on Afterpay’s shares.

More reading

• Is the Altium share price the steal of the century?
• The top ASX growth shares I would buy for the 2020s
• The Afterpay share price is up 580% from its March low
• Got $5,000 spare? Consider Wesfarmers shares and these 2 other ASX companies
• Keep a watch on the Zip Co share price and 1 other ASX tech this June

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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If you’re looking to invest $1,000 into the Australian share market, then there are a lot of quality options for investors to choose from.

To narrow things down, I have picked out two ASX 200 shares that I think would be smart choices for investors. Here’s why I like them:

Aristocrat Leisure Limited (ASX: ALL)

I think Aristocrat Leisure would be a great place to invest $1,000 right now. Especially with its shares down 35% from their 52-week high. While a pullback in its share price has not been unwarranted considering the negative impact of the pandemic on its business, I think the selloff has been overdone.

Aristocrat Leisure’s shares are currently changing hands at 21x estimated FY 2021 earnings. I think this is great value given its very positive long term outlook. This is thanks to its leading pokie machine business and its lucrative digital business which is generating significant recurring revenues from its millions of daily active users. Combined, I believe they will underpin solid earnings growth over the next decade.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX share which I think investors ought to consider investing $1,000 into is Domino’s. I believe the pizza chain operator is one of the best buy and hold options on the Australian share market. This is thanks to its positive long term outlook due to its expansion plans and management’s same store sales targets.

Over the next five years Domino’s is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. And while there is a risk that new store openings will suffer during the pandemic, I’m confident the company will soon catch up with its target. Overall, I expect this winning combination of organic and inorganic growth to underpin strong earnings growth over the next decade.

More reading

• Coles shares and 2 other ASX 200 companies to buy in the current market
• The Santos share price is down 36%! This is what I’d do today
• Is the Altium share price the steal of the century?
• I think Aristocrat shares are outstanding value
• Got $3,000? These 5 beaten-down ASX shares are begging to be bought

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino’s Pizza Enterprises 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.

The post Investing $1,000 into these ASX 200 shares could be a smart move appeared first on Motley Fool Australia.

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ASX 200 shares are under pressure again after a fourth straight day of losses. The S&P/ASX 200 Index (ASX: XJO) is now down 7.2% since last Wednesday’s close.

That means there could be some great bargains in the current market. Xero Limited (ASX: XRO), Newcrest Mining Ltd (ASX: NCM) and Coles Group Ltd (ASX: COL) shares are just a few of the top shares that I think can help you prepare in the current market environment.

3 ASX 200 shares to buy in the current market

It’s hard to know how to position for a second market crash at the best of times, let alone in the midst of a pandemic.

I think non-cyclical earnings and large-cap shares are the key to weathering any storm. Coles shares could fit this bill.

The Coles share price rocketed higher in February and March when the first coronavirus restrictions kicked in. While I don’t think we’ll see the same level of panic buying again in 2020, Coles earnings could still be solid.

That’s especially the case given times are tough right now and many Aussies are cutting expenses where they can. That could mean less spending at cafes and restaurants and more buying from supermarkets like Coles.

Another ASX 200 share that could be in the buy zone is Newcrest Mining. The Newcrest share price has fallen 1.4% lower in 2020 which is a 13.0% outperformance compared to the ASX 200 benchmark index.

Gold shares tend to do well in a share market crash. Investors flock to the safe-haven asset as a store of value when ASX shares are in freefall.

Other than the gold shares, I think tech shares are promising in 2020. Tech shares have been leading the S&P 500 Index higher in the United States and we’ve seen similar on the ASX.

That could mean an ASX 200 tech share like Xero Limited (ASX: XRO) is in the buy zone.

Xero’s accounting software platform is in high demand right now as businesses look to keep a good handle on their finances.

That could mean Xero is a solid hedge with some upside potential in a share market crash.

Foolish takeaway

No one knows if and when another share market crash might occur. Newcrest, Xero and Coles shares are just a couple of the ASX 200 shares that could help to weather the storm in 2020.

However, panic buying and selling of shares also isn’t the answer.

It might be worth sticking to a long-term strategy and riding out the volatility over the coming decades.

More reading

• The Santos share price is down 36%! This is what I’d do today
• Is the Altium share price the steal of the century?
• Got $3,000? These 5 beaten-down ASX shares are begging to be bought
• 5 things to watch on the ASX 200 on Tuesday
• Why MOAT is my favourite ASX ETF

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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.

The post Coles shares and 2 other ASX 200 companies to buy in the current market appeared first on Motley Fool Australia.

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One area of the market which I think is home to a large number of promising companies is the mid cap space.

What is a mid cap? There are various opinions on how to categorise a mid cap share and it can change depending on which share market you are looking at.

On the Australian share market, I would class a mid cap share as a company with a market capitalisation in the range of $500 million to $5 billion. Anything less I would label a small cap and anything greater a large cap.

Why buy mid cap ASX shares?

I’m a fan of mid cap shares because I believe they offer investors the best of both worlds – greater potential returns than large caps, but less risk than small caps.

Luckily for investors, there are a large number of mid cap shares trading on the ASX which I believe offer compelling risk/rewards.

Two that I would buy are listed below:

Nearmap Ltd (ASX: NEA)

The first mid cap share to look at is this leading aerial imagery technology and location data company. Nearmap’s software gives businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. This is proving very popular with end users as it allows them to conduct site visits from the safety of their own home or office. It also enables informed decisions, streamlined operations, and ultimately significant cost savings for businesses. Due to Nearmap’s high quality product offering and its sizeable opportunity in a fragmented market, I believe it has the potential to grow its sales at a very strong rate over the next decade.

Pushpay Holdings Group Ltd (ASX: PPH)

Another mid cap share which I rate highly is Pushpay. It is a donor management platform provider which has been growing at an explosive rate in recent years thanks to increasing demand for its platform in the church market. Although its shares have been on fire this year, I don’t for a second believe it is too late to invest. After all, Pushpay still has a very long runway for growth over the next decade. Management is aiming to capture a 50% share of the medium to large church market in the future. This represents a US$1 billion opportunity, which is many times its current revenue. Given the quality of its platform and a major recent acquisition which has bolstered its offering, I believe there is a high probability of the company achieving its target.

More reading

• $3,000 invested in these 2 shares could make you a fortune over the next 10 years
• The top ASX growth shares I would buy for the 2020s
• Sezzle shares and 2 other ASX techs soared up to 50% in the past 4 weeks
• These are the 10 most shorted ASX shares
• 3 five-star ASX shares I would buy today

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 Nearmap Ltd. and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Nearmap Ltd. and PUSHPAY FPO NZX. 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.

The post Why Nearmap and this ASX mid cap share could be strong buys appeared first on Motley Fool Australia.

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The Santos Ltd (ASX: STO) share price slumped 3.89% lower yesterday and is now down 36.6% in 2020. 

Given the S&P/ASX 200 Index (ASX: XJO) has only fallen 14.4% this year, could the Aussie oil and gas operator be in the buy zone?

Why the Santos share price has slumped lower

Santos is a leading independent oil and gas producer across the Asia-Pacific. It’s a consistent performer and is valued at $10.8 billion right now.

However, investors have been selling out of Santos shares in 2020. The coronavirus pandemic was the trigger but ASX oil shares have been hit particularly hard.

Demand for oil slumped as the travel and manufacturing industries shut down in February and March. That sparked an oil price war between OPEC+ and Russia which created a supply glut and sent the oil price plummeting lower.

While oil prices have started to stabilise, the Santos share price is still trading at a steep discount to where it started the year.

Shares don’t often fall for no reason, but there was a lot of market panic in February and March. That could mean the Aussie oil and gas producer is a cheap buy right now or could be set to fall further.

Is Santos a cheap ASX oil share to buy today?

I think any ASX oil share is a speculative buy right now. However, if I was going to be investing, I’d prefer to look at large-cap shares like Santos.

It might be worth considering if the Santos share price is cheap relative to competitors’ shares.

The Woodside Petroleum Limited (ASX: WPL) share price has fallen 39.9% this year. Woodside currently has a $19.7 billion market capitalisation, making it almost double the value of Santos.

However, if you’re looking for a pure-play oil and gas share, Santos could be a good option.

Foolish takeaway

The Santos share price could be volatile in the months ahead as oil prices continue to move. However, the Aussie oil and gas giant is trading at $5.19 per share and could be a cheap buy for investors looking to take some risks.

More reading

• Coles shares and 2 other ASX 200 companies to buy in the current market
• Is the Altium share price the steal of the century?
• Got $3,000? These 5 beaten-down ASX shares are begging to be bought
• 5 things to watch on the ASX 200 on Tuesday
• Why MOAT is my favourite ASX ETF

Motley Fool contributor Ken Hall 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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More reading

• Coles shares and 2 other ASX 200 companies to buy in the current market
• Why Nearmap and this ASX mid cap share could be strong buys
• The Santos share price is down 36%! This is what I’d do today
• Is the Altium share price the steal of the century?
• I think Aristocrat shares are outstanding value

The post Live Coverage of The Australian Share Market – 16 June 2020 appeared first on Motley Fool Australia.

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The Altium Limited (ASX: ALU) share price has slumped 6.7% lower in 2020 but is the Aussie tech company a steal at the current price of $32.41 per share?

Why the Altium share price could be a steal

Altium is a multinational software business that focuses on electronic design systems for 3D-printed circuit boards (PCBs). Altium is part of the ‘WAAAX’ group of tech shares which have been on a rollercoaster ride in 2020.

The recent bear market crushed the S&P/ASX 200 Index (ASX: XJO) before recovering in April and May. The Altium share price was no different, falling 38.1% in one month from 17 February to 17 March.

Altium is trading at $32.41 right now and would have been a steal at its 52-week low of $23.11. Clearly, the best time to buy was 5 years ago but the next best time could be today.

Altium’s value hasn’t surged higher in the way that Afterpay Ltd (ASX: APT) has in recent weeks. But not every ASX 200 share is Afterpay and that’s a tough benchmark to compete against.

The economy is starting to warm up again which is good news for Altium’s earnings.

Investors have been bullish on the Altium share price in recent weeks. Tech shares have been doing well on both the ASX 200 and overseas in the S&P 500 Index.

I think part of the appeal is the stable earnings that software as a service (SaaS) companies can generate. 

Altium has a strong development pipeline which is promising for the future. The group’s new cloud platform, Altium 365, could be the next step towards an integrated design platform for both supply chain and manufacturing.

If Altium can continue to capture more market share, the Altium share price could be a steal at its current $4.2 billion valuation.

Foolish takeaway

The Altium share price has recovered strongly since bottoming out in March. With a strong growth profile in the decades ahead, Altium could be the steal of the century if earnings continue to grow.

More reading

• Got $3,000? These 5 beaten-down ASX shares are begging to be bought
• 5 things to watch on the ASX 200 on Tuesday
• Why MOAT is my favourite ASX ETF
• Can ASX big banks generate an attractive sustainable dividend yield from FY21?
• ASX 200 falls 2%, ASX travel shares drop heavily

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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