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Is Moderna listed on the ASX? The vaccine company has become a household name over the past two years. Moderna vaccines were approved for use against COVID-19 back in August last year. Since then, countless doses have been put in arms across the country.

What’s more, we got the news today that the Federal Government and the Victorian Government has partnered up with Moderna to build the first mRNA vaccine manufacturing hub in the Southern Hemisphere.

According to reporting from the ABC, the two governments will provide support for Moderna to construct a manufacturing facility in Victoria. The exact location is yet to be determined. According to the report, all parties are hoping that the new plant will produce its first vaccines “sometime in 2024”. But the facility will not be restricted to just COVID vaccines. There are “plans to develop a number of other respiratory treatments and vaccines” too. These are likely to include influenza (the flu) and respiratory syncytial virus.

So now Moderna is set to have such a strong presence in Australia, many investors might be hoping to get a piece of the action in their own portfolios. So is Moderna an ASX listed share?

Are Moderna shares on the ASX?

Unfortunately, the answer is no.

Moderna is indeed a public company. But it is an American one through and through, having been founded in Massachusetts in 2010. As such, Moderna shares are listed on the US markets. Specifically, the company is on the Nasdaq exchange. Its full name is Moderna Inc (NASDAQ: MRNA). That’s a highly applicable ticker code if there ever was one.

So unfortunately for ASX investors, we can’t buy Moderna shares directly on the ASX. If you wanted to buy the company’s shares, you would need to do so by buying the US-listed shares through a supporting broker.

Alternatively, Moderna is a constituent of both the S&P 500 Index (INDEXSP: .INX) and the NASDAQ-100 Index (NASDAQ: NDX). Both of these indexes have ASX exchange-traded funds (ETFs) that track them. So that is another avenue to explore for any aspiring Moderna investors.

But, as is the case with many global companies, there just isn’t a direct ASX listing for us Aussies to go with.

The Moderna share price is currently up by 35.8% over the past 12 months, although it has taken a 24% haircut in 2022 so far. At the last Moderna share price of US$178.73, the company had a market capitalisation of US$72.03 billion.

The post Is Moderna listed on the ASX? 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 recommended Moderna Inc. 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 Bruce Jackson.

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The Imugene Limited (ASX: IMU) share price is on the move today. This comes after the company announced an update on its phase 1 clinical trial of its oncolytic virotherapy candidate, Checkvacc.

Checkvacc is a novel treatment currently being tested to kill tumour cells and activate the immune system against cancer cells.

During early afternoon trade, the immuno-oncology company’s shares are up 2.63% to 29.3 cents.

Imugene increases dosage of Checkvacc

The Imugene share price is firmly in the green after providing investors with a positive update.

In its release, Imugene advised it will proceed to the second dose cohort in the Checkvacc phase I clinical trial.

The study is being conducted at the City of Hope, a world-renowned cancer treatment and research centre near Los Angeles.

Imugene stated that Checkvacc was deemed to be safe from the Protocol Management Team.

Specifically, no dose-limiting toxicities (DLTs) and no serious adverse reactions were observed from the first cohort of patients. They were administered with the lowest dose of Checkvacc as monotherapy during the initial study.

The current trial design will involve a dose escalation, followed by an expansion to 12 patients at the final dose. This will then be recommended for a phase 2 dose (RP2D).

The trial is anticipated to run for 24 months and is funded from existing budgets and resources.

Imugene managing director and CEO Leslie Chong commented:

We are pleased with the results that we have seen so far with no observed toxicity with early encouraging results in oncolytic virus infection and replication in the TNBC tumours.

…The Protocol Management Team for the study reviewed the first low dose cohort of patient’s data and has recommended to proceed to the next dose escalation due to safety and tolerability.

Imugene share price snapshot

Over the past 12 months, the Imugene share price has gained more than 154%. A sharp contrast when looking at year to date, with the latter down 27%.

The company’s shares touched a 52-week high of 62.5 cents in November 2021, before travelling on a downhill trend.

Based on today’s price, Imugene presides a market capitalisation of roughly $1.71 billion.

The post Thursday brings more good news for the Imugene (ASX:IMU) share price appeared first on The Motley Fool Australia.

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• Why Block, Calix, Carnarvon, and Imugene shares are racing higher
• Here’s why the Imugene (ASX:IMU) share price is having such a stellar day
• Do ASX biotech shares offer ‘good buying’ after the sell-off? Experts weigh in
• Imugene (ASX:IMU) share price lifts on major collaboration announcement
• Here are the top 10 ASX shares today

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 Bruce Jackson.

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The Vulcan Energy Resources Ltd (ASX: VUL) share price is tracking higher in afternoon trading today after spending much of the morning in the doldrums.

At the time of writing, shares in the geothermal energy and lithium producer are up 0.86%, trading at $10.56 after a positive company announcement today.

What did Vulcan announce?

In its release, Vulcan told ASX investors that German renewable energy industry heavyweight, Dr Günter Hilken, has joined its board. The company expects Dr Hilken’s appointment will advantage Vulcan in its push for geothermal energy to replace Russian gas supplies to Germany.

Dr Hilken is a senior advisor to Macquarie Asset Management and a director of the German energy services company, Currenta.

He is also president and chairs the board at the influential German Federation of Industrial Energy Consumers (VIK). The VIK represents 80% of industrial energy consumption and 90% of electricity production independent from utility firms in Germany.

Vulcan wants to make geothermal energy a foundation of Germany’s sustainable renewable energy supply. It is seeking to capitalise on Germany’s desire to transition away from local carbon-based energy sources and Russian gas.

What’s Russia got to do with it?

Europe is one of Russia’s biggest energy customers, with the country supplying 40% of Europe’s gas imports for heating.

As part of the West’s backlash against the Russian invasion of Ukraine, Germany is now seeking to reduce its energy dependence on Russia.

Vulcan hopes to be part of the solution as a producer of geothermal energy in Germany’s Upper Rhine Valley.

Management commentary

Dr Hilken will join the Vulcan board as a non-executive director. Chair Gavin Rezos said Dr Hilken’s skills and connections within German industry and government would be “invaluable”.

Vulcan is very fortunate to obtain Dr Hilken’s skills and deep connections within German industry, government and the renewable power sector.

These skills will be invaluable to the Board and in Vulcan’s drive for German geothermal energy to replace Russian gas used in heating.

Dr Hilken’s background in the chemical industry and supply chains will also benefit Vulcan in developing its Zero Carbon Lithium Project.

The Zero Carbon Lithium Project aims to produce geothermal energy and lithium hydroxide for electric vehicle batteries from the same deep brine source in the Upper Rhine Valley.

Vulcan share price snapshot

The Vulcan share price is up 70% over the past 12 months, but it has been one of few ASX energy/resource shares to slip in 2022.

Vulcan shares have fallen by 3% year-to-date. This compares to a 22% gain for the S&P/ASX 200 Energy Index (ASX: XEJ). The gain is due to disrupted global energy supplies as a result of the Russia-Ukraine conflict.

Vulcan has a market capitalisation of $1.37 billion based on its current share price.

The post Vulcan (ASX:VUL) share price lifts amid company quest to replace Russian gas appeared first on The Motley Fool Australia.

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• Experts name 3 of the best ASX lithium stocks to buy now
• Here’s why the Vulcan (ASX:VUL) share price is charging higher today
• Why Ampol, EML, Vulcan, and Zip shares are zooming higher
• Renewable energy shift ‘is about to accelerate’ making Vulcan (ASX:VUL) shares a buy: Broker
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Motley Fool contributor Bronwyn Allen 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 Bruce Jackson.

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The AVZ Minerals Ltd (ASX: AVZ) share price is soaring this week. It’s gained 35.98% over the last week.

That brings the company’s stock to trade at $1.12 at the time of writing – 8.25% higher than its previous close.

However, that’s down on its intraday high – and new 52-week high – of $1.14.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.09% at the time of writing.

So, what’s been pushing the AVZ Minerals share price higher lately? Let’s take a look.

What’s boosting the ANZ Minerals share price this week?

There are 2 happenings that have likely helped spur the AVZ Minerals share price to gain more than 30% this week.

The first is the company’s newly instated inclusion in the ASX 200. It was welcomed among the ASX bigwigs before the market opened on Monday.

Of course, that meant any fund tracking the ASX 200 had to buy into the company to continue mirroring the index.

Additionally, managers of funds mandated to only trade ASX 200 shares were able to consider the stock for the first time this week.

Potentially as a result, the AVZ Minerals share price gained 8.28% on Friday.

Not to mention, more than 287 million of the company’s shares swapped hands that day. That made Friday the company’s most active session ever.

The other factor that has likely helped boost the newly minted ASX 200 share’s value is the rising price of lithium.

As The Motley Fool Australia’s Tristan Harrison reported yesterday, the Pilbara Minerals Ltd (ASX: PLS) share price is also surging higher this week. It’s in the green amid strong lithium prices and a bullish broker outlook.

Other lithium-focused stocks gaining alongside the AVZ Minerals share price this week include Core Lithium Ltd (ASX: CXO), Sayona Mining Ltd (ASX: SYA), and Mineral Resources Limited (ASX: MIN).

The post The AVZ Minerals (ASX:AVZ) share price has boomed a whopping 36% in a week. What’s the deal? appeared first on The Motley Fool Australia.

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• These are the top performing ASX lithium stocks so far in 2022
• Here are the top 10 ASX shares today

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of tech giant Apple (NASDAQ: AAPL) were off to the races Wednesday afternoon, up 2% as of 1:40 p.m. ET, most likely thanks to an upbeat note from investment bank Wedbush this morning 

So what

In its note today, Wedbush cited “stellar iPhone 13 demand globally” as the basis for its optimism on the stock. iPhone 13 sales are strong in the U.S., and particularly strong in China, said Marketwatch, with Apple picking up another 3% of market share in the latter nation.

What’s more, Wedbush said it believes Apple is in an “elongated product cycle” and that the iPhone 13’s success will turn into “the drumroll to iPhone 14 this Fall” (keeping today’s rally going all year long). And that’s on top of a prediction that the company will sell 30 million new 5G-capable iPhone SEs this year.

For what it’s worth, investment bank J.P. Morgan seems to mostly agree. In a separate note, it points to “incremental datapoints [that] support our positive outlook for iPhone 13 demand into [calendar year 2022],” to back up its own overweight rating and $210 price target on Apple.

Now what

And 2022 could be only the start of the good news.

Peering deeper than usual into its crystal ball (Wall Street analysts usually only forecast 12 months out), Wedbush predicts that Apple’s “monster” growth cycle will continue over the next 12 to 18 months. Thus, this rally could potentially extend all the way into late 2023, a likelihood that Wedbush does not believe has yet been “baked into shares at current levels.”

I’m inclined to agree. At 25.6 times earnings, Apple stock doesn’t cost much more than the average company in the S&P 500, which costs 25.5 times earnings. Apple, however, is anything but an average company. Its stock price probably deserves to go higher. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Apple stock looks tasty today appeared first on The Motley Fool Australia.

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Rich Smith has no position in any of the stocks mentioned. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Incitec Pivot Ltd (ASX: IPL) share price has continued to climb and hit multi-year highs in the past month.

Incitec shares have surged 26% since market close on 24 February and are currently trading at $3.85. In today’s trade, the company’s shares are up 1.3%.

So why is the industrial chemicals and explosives manufacturer so popular with investors at the moment?

Positive broker upgrades

The Incitec Pivot share price is currently trading at its highest level since November 2018.

The company’s shares surged almost 13% between market close on 4 March and 11 March alone. Investors appear to have reacted positively to a broker note from Credit Suisse. Analysts upgraded the company’s shares to an outperform rating. As my Foolish colleague James reported, Credit Suisse was optimistic Incitec Pivot would benefit from higher fertiliser prices.

On March 11, Incitec appointed a new chief financial officer with significant global experience. Paul Victor, who will start on 1 July, is an executive director and chief financial officer of global chemicals and energy company Sasol Limited.

Commenting on the appointment, CEO and managing director Jeanne Johns said:

Paul is joining at an exciting time as we further develop our strategic agenda with two industry leading businesses in the mining and agricultural industries.

This week, the Incitec Pivot share price is continuing to smash multi-year highs. My Foolish colleague Bernd noted rising fertiliser prices and a strategic acquisition earlier this year may be helping the company’s shares. The company entered an agreement to acquire 100% of French explosives manufacturer Explinvest. The company expects to complete this transaction in June 2022.

In late February, Incitec Pivot updated shareholders on the impact of an incident at the company’s ammonia plant in Louisiana. The company confirmed a pipe rupture resulted in the release of hydrogen. Repairs on the plant were predicted to take between six and eight 8 weeks.

Incitec Pivot share price snapshot

The Incitec Pivot share price has surged 39% over the past year, while it is up 19% this year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has gained 9% in the past 12 months.

Incitec has a market capitalisation of about $7.6 billion based on its current share price.

The post Why has the Incitec Pivot (ASX:IPL) share price exploded 26% in a month? appeared first on The Motley Fool Australia.

More reading

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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 Bruce Jackson.

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The Noumi Ltd (ASX: NOU) share price has slipped into the red this afternoon and is currently down 0.88% at 22.5 cents.

Noumi, formerly Freedom Foods, is embroiled in a saga with its auditor after Australian regulators pointed the finger at both parties late last year.

Today, the company released an important update regarding the conclusion of its auditor’s appointment, following the auditor’s decision to open court proceedings against it.

What did Noumi announce today?

As a quick backdrop, back in December 2021, Noumi was served with two class action proceedings from the Victorian Supreme Court.

The court alleged that both Noumi and its auditor, Deloitte Touche Tomatsu, had breached the Corporations Act 2001.

Today, Noumi advised Deloitte has notified the Australian Securities and Investment Commission (ASIC) that it believes “a conflict of interest situation exists in connection with the class action proceedings brought against it in relation to its role as auditor of the company”.

As a result, Deloitte will finish up as Noumi’s auditor on 13 April 2022.

Where the conflict of interest arises, Noumi says, is due to the arguments in Deloitte’s defence to the class action.

Specifically, Deloitte will allege the company was “a concurrent wrongdoer” in its proportionate liability defence, while lodging a defensive cross-claim against Noumi.

“Noumi intends to vigorously defend all claims made against it in the proceedings,” the company stated today.

The company has begun the search to appoint a new auditor and will update the market when doing so, pending shareholder approval.

Noumi’s defence is due at the court on 8 April 2022, and thus investors can expect further updates on the saga at that time.

Noumi share price snapshot

The Noumi share price has tracked lower in 2022 and is now down 45% this year to date. It is also down 24% in the past month.

Its shares are down almost 60% over the past year, meaning Noumi must gain 150% before returning to its previous highs.

The post ‘Conflict of interest’: Why the Noumi (ASX:NOU) share price is falling today appeared first on The Motley Fool Australia.

More reading

• Noumi (ASX:NOU) share price falls 12% on results but ‘growth engines’ ready to fire

Motley Fool contributor Zach Bristow  has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Freedom Foods Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Many ASX shares have managed to claw their way back from morning losses but two entities have to contend with being hit by a broker downgrade.

One in the firing line is online job ads group Seek Limited (ASX: SEK). The Seek share price has slumped 2.8% to $29.49 at the time of writing even as the All Ordinaries Index (ASX: XAO) rebounded 0.12% higher.

The other is shipbuilder Austal Limited (ASX: ASB). Let’s take a closer look at the pair.

Seek at risk of earnings disappointment

What might be weighing on the Seek share price is broker Macquarie’s decision to cut its recommendation on the shares from outperform to neutral.

This is despite Seek posting a solid set of results with strong revenue growth over the last 12 months.

Australia’s severe labour shortage can likely be credited for the increase in revenue. Businesses that are desperate to hire are not only advertising more on the site, but they are paying for premium services to attract workers.

Downgrade risk for this ASX share

While the current environment provides a positive backdrop for the Seek share price, the good times may not last as long as the market may expect.

Macquarie noted that the market had incorrectly assumed depth revenue (sales of its premium services) as a structural event. This in turn is elevating earnings through to FY23.

But as the labour market normalises, the broker questions if this assumption is too bullish, saying:

SEEK remains a high-quality business with a favourable labour market backdrop. The price-to-value strategy may offer upside in the longer term as well.

However, this is offset by near term downside risk to earnings; limited valuation support; and longer-term upside already expected (price-to-value captured in forecasts).

Macquarie’s 12-month price target on the Seek share price is $32 a share.

Austal share price recovery offers little comfort

Meanwhile, the broker has also hit the Austal share price with a downgrade. It cut its rating on the shipbuilder to neutral too, with a 12-month target of $1.91 a share.

The bad news hasn’t seemed to sink the Austal share price today though. It’s up 1.24% to $1.80 in early afternoon trade.

However, this comes off the back of an 11% plunge for Austal yesterday when the Philippines Navy decided not to award the ASX company with a contract.

Fog of war clouds its ASX share price

It appears the market was assuming that the contract to build offshore patrol vessels was a given. Austal management said it would look for new customers and pursue commercial ferry work for its Philippine shipyard.

But the loss is making investors nervous and puts extra focus on Austal’s upcoming US contract. A decision is expected in late May or June this year.

Austal needs the new US contract to replace its current LCS program, which will finish by FY24.

The lack of visibility on its order book is the key reason why Macquarie decided to downgrade the Austal share price.

The post Why has Macquarie downgraded these 2 ASX shares? appeared first on The Motley Fool Australia.

More reading

• No deal: Here’s why the Austal (ASX:ASB) share price sank 11% today
• Why Austal, Cettire, Fisher & Paykel Healthcare, and Resimac shares are sinking
• Why is the Seek (ASX:SEK) share price sliding today?
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Motley Fool contributor Brendon Lau owns Austal Limited and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Austal Limited. The Motley Fool Australia has recommended Macquarie Group Limited and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX lithium shares Galan Lithium Ltd (ASX: GLN) and Lithium Australia NL (ASX: LIT) are both marching higher today.

The Lithium Australia share price is up 1.82% at time of writing, currently trading for 11.2 cents per share.

Galan Lithium is running even hotter, with shares up 4.24% to $1.72.

So, what’s driving investor interest in these ASX lithium shares today?

Encouraging soil sampling and aerial mapping results

This morning Gala reported that it’s recently completed its first exploration sampling and mapping work at its joint venture Greenbushes South Lithium project.

The project, located in Western Australia, is a joint venture between Galan (80% interest) and Lithium Australia (20% interest).

Gala said it has now received the results of its completed geochemical survey. Those show 425 soil samples and 14 rock chip samples.

The samples were taken from the Donnybrook sheer zone, primarily associated with “syntectonic emplacement of the lithium-bearing pegmatites of the Greenbushes mine”.

Gala reported that pathfinder element concentrations from those samples indicate prospective targets “near the trace of the mineralising zone”.

According to the release, Greenbushes is the largest hard-rock lithium mine on the planet.

On the mapping end, the ASX lithium shares have completed 7,622 kilometres of airborne magnetic and radiometric geophysics at low altitude, providing high resolution data. Thomson Airborne is processing the geophysical data, which will then be interpreted by Southern Geoscience Consultants.

Commenting on the exploration progress, Galan’s managing director, JP Vargas de la Vega said:

We are excited with the prospectivity at our Greenbushes South Lithium project and are encouraged with the new soil sample results that continue to indicate that the tracing elements that are found within the Donnybrook sheer zone may well host lithium pegmatites the same as in the Greenbushes mine bordering to the north of our tenements.

Galan looks forward to further strengthening its geological data and knowledge within its tenements as soon as the report from our consultants is completed. The results will formulate our next exploration phase when we will be able to generate and prioritise specific exploration targets in the area.

The ASX lithium share reported that it’s also submitted the final revision of its Conservation Management Plan for its future exploration programs on its pending applications.

How have these ASX lithium shares been performing?

While down 11% in 2022, the Galan share price is up an impressive 220% over the past 12 months.

Fellow ASX lithium share, Lithium Australia, is down 7% in 2022 and down 14% over the past 12 months.

For some context, the All Ordinaries Index (ASX: XAO) has gained 9% over 12 months.

The post ‘We are excited’: Why these 2 ASX lithium shares are popping today appeared first on The Motley Fool Australia.

More reading

• Get ready! The ASX shares set for a decade-long tailwind: expert

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 Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Investors have seen some respite early this week from the tough market conditions that have prevailed throughout much of 2022 thus far. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) turned lower on Wednesday, trading down more than three-quarters of a percent as of 1:30 p.m. ET. Overall, the market community is still struggling with all the uncertainty prevailing across financial markets, including not only stocks but also bonds, commodities, and real estate.

Yet even with all the potential headwinds facing the market, some Nasdaq stocks are still hitting all-time highs. Among the companies setting new stock-price highs throughout their histories, Palo Alto Networks (NASDAQ: PANW) and Amphastar Pharmaceuticals (NASDAQ: AMPH) stood out from the relatively small crowd. Below, we’ll take a closer look at those stocks to see what’s happening with the companies. 

Palo Alto rises on cybersecurity threats

Shares of Palo Alto Networks were higher by 1.5% early Wednesday afternoon on a down day for Wall Street, bringing its gain over the past year to 87%. The cybersecurity specialist has gotten a lot of attention lately, due in large part to the specific geopolitical threats of cyberwarfare that the Russian invasion of Ukraine poses.

Palo Alto has done a good job of publicizing the need for better cybersecurity. In a release earlier this week, the company highlighted the fact that even though the vast majority of state and local government entities understand that breaches from ransomware are a significant and ongoing threat, fewer than half have a ransomware incident response plan in place in the event of such an attack.

Palo Alto has positioned itself to be the provider of choice for cybersecurity services, and it has seen significant adoption of its platform. Revenue has more than doubled since fiscal 2018, including a 30% rise year over year in its most recent quarterly report. Adjusted net income showed modest growth, and Palo Alto gave guidance for growth rates of 25% to 26% for sales along with earnings expectations of $7.23 to $7.30 per share for the full fiscal year.

There’s plenty of competition in the cybersecurity stock space, and Palo Alto isn’t the only successful company providing these valuable services. Nevertheless, it’s done a better job than many of seeing its stock price hold up in the recent downturn, and it’s still in good position to benefit as cybersecurity returns to the spotlight. 

Amphastar keeps looking healthier

Amphastar has seen its stock rise 54% just since the beginning of 2022, and the shares added another 1% on Wednesday. The biopharmaceutical company has seen great success with its intranasal, inhalation, and injectable products, and investors are responding to solid results.

The company’s fourth-quarter and full-year financial results released earlier this month show the tone of Amphastar’s business lately. Revenue was up 26% year over year for the quarter, finishing a year with 25% sales growth. Adjusted earnings more than doubled for both periods, coming in at $0.42 per share for the fourth quarter and $1.37 per share for 2021. 

Amphastar’s biggest revenue bump came from sales of Primatene Mist and epinephrine, which posted 60% and 152% gains respectively. The company attributed Primatene’s surge to a strong advertising campaign, while a new multi-dose vial helped bolster epinephrine sales. In addition, the introduction of the injection emergency kit treatment Glucagon provided a valuable new source of sales for the company.

Looking ahead, Amphastar has five abbreviated new drug applications before the U.S. Food and Drug Administration to serve markets worth $4 billion, as well as a host of biosimilar and generic products in development targeting another $25 billion in market opportunities. Investors have high hopes that Amphastar can keep up its momentum, and the stock is reflecting that potential. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post These 2 Nasdaq stocks hit all-time highs on Wednesday appeared first on The Motley Fool Australia.

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• Why is the oOh!Media (ASX:OML) share price slipping 6% today?
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Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and recommends Amphastar Pharmaceuticals and Palo Alto Networks. 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 Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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