Here’s why these 4 ASX shares are storming higher today

It is looking like the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is going to have a solid finish to the week. In afternoon trade the index is higher by 0.8% to 5,417 points, with gains being seen in almost all sectors except for the materials sector.

Four shares which have been having particularly strong days are as follows:

Bionomics Ltd (ASX: BNO) shares surged almost 6% to 36.5 cents, before dropping back a touch. Investors have been piling into this growing biotech company this week following the release of some very promising news relating to its anxiety treatment trials. According to its release the results suggest the potential for a paradigm change for treatment of anxiety disorders.

Beach Energy Ltd (ASX: BPT) shares have risen around 3.5% to 60.5 cents on the back of rises in oil prices. Overnight oil prices rose due to favourable supply data and a weakened US dollar according to the Wall Street Journal. How long these elevated prices stick around nobody knows, but signs may well be pointing to sustained lows.

Nearmap Ltd (ASX: NEA) shares have rocketed higher by 6% to 56.2 cents. Although there was no news out of the company, considering its exciting growth prospects it doesn’t come as a surprise to see investors buying up its shares. This growing aerial imaging company’s US business has the potential to be incredibly lucrative. I was pleased to see revenue growth accelerated in the region in the second half of FY 2016 and all being well this momentum will be carried through into FY 2017.

Village Roadshow Ltd (ASX: VRL) shares are flying higher by 6% to $5.01 today despite no news out of the company. The media and entertainment business shares have been pummelled this year and are down 33% year to date even after today’s gains. But with management taking steps to rebase earnings and chase new revenue streams, I’m optimistic that a turnaround is coming. With a fully franked 6% dividend expected in FY 2017 according to CommSec, it certainly is an appealing investment.

Missed out on gains today? Don't worry! These three growth shares could be next in line to bolt higher if you ask me.

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Motley Fool contributor James Mickleboro has no position in any 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 Bruce Jackson.

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