ASX 200 healthcare shares were defensive in June but finished the month down overall.
The benchmark S&P/ASX 200 Health Care Index (ASX: XHJ) was volatile, slipping 3% in June. Nevertheless, there were some names worth mentioning. Let's take a look.
CSL Limited (ASX: CSL)
Shares in biotech giant CSL finished June down but managed to bounce from a low of $255 on 17 June to finish at $269 apiece.
It was a quiet month for CSL, however, the company's large market cap and defensible industry arguably helped it through the month relatively unscathed.
The $129 billion company by market cap is also tipped to soar past $300 per share by those at Cameron Harrison.
Analysts at the firm note that CSL is positioned to benefit from tailwinds in its plasma collection and influenza vaccine businesses.
CSL shares are down 4.5% over the last 12 months.
Immutep Ltd (ASX: IMM)
Another ASX 200 share to mention is Immutep. Its shares were extremely volatile last month, trading as low as 14 cents and as high as 24 cents.
Despite continued updates regarding its lead drug candidate, etfi, investors appear to have overlooked the share in favour of more systematic risks plaguing the markets.
Immutep has several trials that are investigating etfi's efficacy in a number of applications. Etfi has been recognised at the recent American Society of Clinical Oncology (ASCO) 2022 Special Edition.
Immutep shares are down 51% into this year to date.
Incannex Healthcare Ltd (ASX: IHL)
Another share that struggled last month was Incannex Healthcare. Again investors were mute to updates on the company's drug studies in June.
For instance, on 2 June, it announced positive results from a phase 2 clinical trial investigating the effect of one of its drug candidates, IHL-42X.
It was being tested for treatment of obstructive sleep apnoea.
After a minor jump, the Incannex share price cratered in the days afterwards. It hasn't stopped trading down and investors are unloading their positions at pace.
Incannex now trades 65% down this year to date and 16% in the past 12 months.
