The market may have been struggling to push higher this month but that hasn’t stopped some shares from putting on strong gains.
Three shares that have stormed to 52-week highs or better today are listed below. Is it too late to buy these market-beating shares?
The Bravura Solutions Ltd (ASX: BVS) share price climbed to an all-time high of $4.45 this morning, stretching the fintech company’s 12-month return to a whopping 165%. Bravura provides software solutions to the wealth management, life insurance, and funds administration industries. It is the company’s wealth management solution that has really caught the eye of the market. The Sonata platform continues to go from strength to strength and recently posted revenue growth of 32% to $122.5 million. This means it now contributes 55% of total company revenue. Due to the quality of the product and its sizeable addressable market, I expect this strong growth could continue for some time to come. While its shares are now looking expensive, I still see them as a buy if you are prepared to hold on for the long-term.
The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price hit an all-time high of $24.10 this morning before giving back its gains. This meant that the shares of the biopharmaceutical company had risen an impressive 276% since this time last year. A good portion of these gains came this month after the US Food and Drug Administration issued a request for further documentation to support the company’s new drug application for SCENESSE. Management has stated that it views this request as an integral part of the ongoing dialogue between the two parties. A decision on Priority Review will be made following satisfaction of all agency requests, meaning a potential launch may not be too far away. While I wouldn’t be a buyer right now, I think it is worth watching.
The Mesoblast limited (ASX: MSB) share price has climbed to a 52-week high of $2.13 during morning trade, extending its 12-month return to 55%. Investors have been fighting to get hold of the allogeneic cellular medicine developer’s shares since it released an update on its Phase 3 product candidate remestemcel-L. According to the update, the company has seen strong survival outcomes through Day 180 in children with steroid refractory acute Graft Versus Host Disease treated with the Phase 3 product candidate. In addition to this, the market has responded positively to news that Tasly Pharmaceutical has successfully obtained all necessary approvals required for its agreement with Mesoblast to commercialise cell therapies for cardiovascular diseases in China. It has been a difficult few years for shareholders, but things are certainly looking positive right now.
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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 Bravura Solutions 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.