The CSL Limited (ASX: CSL) share price has rallied strongly in the second half of this month, up 7.40% since 15 July to $295.55.
Broad buying across ASX 200 healthcare shares
The CSL share price isn’t alone in its recent resurgence.
The S&P/ASX Health Care (INDEXASX: XHJ) index has also rallied 6% since 15 July.
What’s next for the CSL share price?
His outlook was previously covered by The Motley Fool, highlighting why CSL could be a good long-term opportunity.
According to Switzer, “The company’s biggest profit-maker is collecting plasma in the US, and the virus concerns scared off a lot of its donors who get paid to give blood. As normalcy comes back, demand for blood will rise, and that will be good for CSL’s bottom line.”
The CSL share price is still flat this year
The CSL share price is up about 3.5% year-to-date, underperforming the broader S&P/ASX 200 Index (ASX: XJO).
CSL’s underwhelming performance is consistent with its international biotech peers such as Grifols.
Grifols is a Spanish multinational biotech company with a focus on producing blood plasma-based products.
Its shares have tumbled 13.66% year-to-date, but its quarterly results on 4 May reveal some positive commentary regarding plasma collections.
In the United States, plasma donations are gradually recovering. Of note was the trend observed in January, February and April in the wake of the country’s vaccination rollouts and the easing of COVID-19 restrictions, while taking into account the mitigating effect of stimulus incentives issued in March and December.