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Why these 4 ASX shares are storming higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to build on yesterday’s gain with another push higher on Thursday. In afternoon trade the index is up 0.7% to 6,067.3 points.

Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:

The A2 Milk Company Ltd (ASX: A2M) share price has continued its recovery and is up 3.5% to $10.28. With no news out of the infant formula and dairy company, I suspect today’s gain is likely to be a case of bargain hunters swooping in again. The company’s shares have now rallied 7% higher this week.

The Fastbrick Robotics Ltd (ASX: FBR) share price has surged 11.5% higher to 19.5 cents after the robotics company announced that the assembly of its Hadrian X bricklayer robot is now complete. This means that Hadrian X is now ready for the extensive testing of its functionality over the next few months. I think Hadrian X is an exciting development and could change the bricklaying industry. However, it is early days and there’s still a long road ahead until it is potentially generating meaningful revenues.

The Mayne Pharma Group Ltd (ASX: MYX) share price has continued its strong run and is up over 6% to 87.2 cents. The pharmaceutical company’s shares have now risen 21% in less than two weeks despite there being no news out of it. However, biotech shares have been on the rise in the United States since last month when President Trump revealed a less severe than expected plan to curb U.S. drug prices.

The Nearmap Ltd (ASX: NEA) share price has risen 3.5% to 99.5 cents. This morning the geospatial map technology provider was the subject of a positive broker note out of Morgan Stanley. According to the note, the broker has retained its overweight rating and $1.40 price target on Nearmap’s shares.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of A2 Milk. 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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