Why Bellamy's, Botanix, Objective Corp, & St Barbara shares charged higher today

The Bellamy's Australia Ltd (ASX:BAL) share price and the Botanix Pharmaceuticals Ltd (ASX:BOT) share price are two of four racing notably higher today…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

sdf

Although it has fought back from its lows, the S&P/ASX 200 index is still on course to start the week on a disappointing note. At the time of writing the benchmark index is down 0.35% to 6,672.5 points.

Four shares that have not let that hold them back are listed below. Here's why they have charged higher:

The Bellamy's Australia Ltd (ASX: BAL) share price has risen over 3% to $9.07 despite there being no news out of the infant formula and baby food company. However, last week a note out of Goldman Sachs revealed that demand for infant formula on Chinese ecommerce platforms was strong during the month of June. Investors may believe that daigou demand for Bellamy's products has been strong over the period.

The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has zoomed 14% higher to 24 cents after the clinical stage cannabinoid company released new data from studies recently conducted around its cannabidiol antimicrobial platform. According to the release, new data has shown that a new drug candidate from Botanix's cannabidiol antimicrobial platform has potent activity against hypervirulent strains of the bacteria Clostridium difficile. Clostridium difficile is responsible for over 30,000 deaths and 500,000 infections annually in United States, costing the healthcare system around US$5.2 billion each year.

The Objective Corporation Limited (ASX: OCL) share price has raced over 10% higher to $3.10 following the release of a trading update out of the information and process governance solutions company. According to the update, Objective expects to report a 23% increase in net profit after tax in FY 2019. This has been driven by strong subscription revenue.

The St Barbara Ltd (ASX: SBM) share price has pushed almost 3% higher to $3.21. The gold miner's shares have lifted with the rest of the gold miners on Monday after the gold price finished the week on a positive note. At the time of writing the the S&P/ASX All Ords Gold index is up almost 1.2%.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Bellamy's Australia. 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.

More on Share Gainers

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to a disappointing week for investors this Friday.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Betr, Centuria Capital, GR Engineering, and Mach7 shares are pushing higher

These shares are having a good finish to the week. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX gave up an afternoon lead to close lower today.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Clarity Pharmaceuticals, Kelsian, Life360, and Syrah shares are rising today

These shares are pushing higher on Thursday. But why?

Read more »

Man smiling on top of rocks with mountains in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were in a nervous mood today.

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Beach Energy, Boss Energy, Cochlear, and Light & Wonder shares are pushing higher

These shares are having a good time on hump day. But why?

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing Tuesday session for ASX investors today.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Thinking of selling your CBA shares? This expert says you should hold on

CBA shares are up by about 80% since November 2023.

Read more »