In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a solid gain. At the time of writing, the benchmark index is up 0.65% to 8,802.2 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:
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Clinuvel Pharmaceuticals Ltd (ASX: CUV)
The Clinuvel share price is up 4% to $11.97. This follows the release of data relating to its SCENESSE product and its potential use treating vitiligo. Commenting on the data, director of global clinical affairs, Dr Emilie Rodenburger, said: "Most satisfying is to hear how patients are receiving benefit from treatment and the shared excitement from the treating physicians who may have – for the first time – a therapy that works for patients with extensive vitiligo. We look forward to learning the full study results in 2026." This could be a very lucrative market for the specialty pharmaceuticals company. It estimates that vitiligo represents an addressable market of US$490 million to US$570 million in just the United States. Whereas the global market opportunity sits at an estimated US$4.5 billion according to the company.
CSL Ltd (ASX: CSL)
The CSL share price is up 1% to $200.36. This may have been driven by the release of a broker note out of Citi this morning. According to the note, the broker has retained its buy rating on the biotechnology company's shares with a price target of $265.00. Based on its current share price, this implies potential upside of over 30% for investors between now and this time next year. Citi continues to believe that double-digit earnings growth is possible over the medium term.
Pro Medicus Ltd (ASX: PME)
The Pro Medicus share price is up 6% to $317.30. This may also have been driven by a broker note out of Citi. This morning, the broker has upgraded the health imaging technology company's shares to a buy rating with a vastly improved price target of $350.00. While Citi acknowledges that Pro Medicus shares trade on very high multiples, it believes this is justified due to its strong earnings growth outlook. This is being underpinned by sticky customers and long contracts.
Zip Co Ltd (ASX: ZIP)
The Zip share price is up 3.5% to $4.71. Another broker note could be behind this solid rise on Friday. According to a note out of UBS, its analysts have retained their buy rating on this buy now pay later provider's shares with an improved price target of $5.25. UBS has been looking at app store data and believes it points to strong growth in downloads. It feels that this indicates that momentum is strong and has upgraded its earnings estimates accordingly.
