Are these rocketing ASX healthcare shares a must buy?

These companies all rose significantly to start the week.

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Yesterday the ASX roared back to life after a rough few weeks. This included a big gain for three exciting ASX healthcare shares: 

These smaller healthcare companies fall within the high risk category of the stock market. 

These kinds of shares can deliver outsized returns when clinical trials succeed, regulatory approvals are secured, or breakthrough technologies gain commercial traction. 

However, these companies also carry significant risk due to limited revenue, funding dependence, and the potential for sharp share price declines if research outcomes or market expectations disappoint.

Let's see what was prompting the big gains yesterday and if experts are tipping further upside. 

Doctor checking patient's spine x-ray image.

Image source: Getty Images

Tetratherix continues to climb 

Tetratherix develops a biostealth fluid matrix for regenerative medicine. The firm offers Tetramatrix as its primary product.

It has been one of the hottest ASX healthcare stocks in 2026, rising 68% since the start of the year. 

The company's recent quarterly report highlighted progress toward commercialising its Tegenix product via a global agreement with Henry Schein and expanding into precision medicine with its STEPP drug-delivery platform, including a lucrative R&D deal.

This prompted a speculative buy rating from Morgans along with an updated price target of $6.84. 

From yesterday's closing price of $5.55, this indicates a further 23% upside. 

SDI scheme approved by ASIC

Yesterday, SDI rose over 7% after a key company announcement. 

According to the release, it is being acquired by a Chinese-backed buyer group for A$1.40 cash per share through a court-supervised process called a scheme of arrangement. 

The Supreme Court of New South Wales has approved SDI holding a shareholder vote and sending shareholders the official Scheme Booklet explaining the deal and including an independent expert's report. 

Shareholders will now review the documents and vote on whether to approve the takeover, which still requires final shareholder and court approval before completion.

At the time of writing, this ASX healthcare stock is trading for roughly $1.34 per share, meaning the offering is 4.5% higher than the current price. 

Saluda Medical shows signs of life 

Saluda Medical shares also jumped 7% yesterday. 

This was positive news for investors, especially given the stock has fallen more than 65% in 2026. 

Saluda Medical is a commercial-stage medical device company commercialising spinal cord stimulation (SCS) therapy. Saluda is currently a single product company, centred around its differentiated SCS product called the 'Evoke System'. 

It looks like this rise could be a sign of what's to come. 

Bell Potter recently placed a speculative buy recommendation and $2.00 price target on this ASX healthcare stock. 

This implies 300% upside from current levels. 

The broker is optimistic thanks to its considerable commercial traction. 

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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