If you are, it could be worth looking at the shares in this article that Morgans has been recommending to clients. Here's what the broker is saying:

GQG Partners Inc (ASX: GQG)

The first ASX share to look at is GQG Partners. Morgans has put an accumulate rating and $1.64 price target on this fund manager's shares this week.

Based on its current share price of $1.45, this implies potential upside of 13% for investors over the next 12 months. However, a dividend yield of around 10% is also expected, boosting the total potential return to 23%. It commented:

GQG has provided a May FUM update. Overall, monthly outflows appear to be stabilising in the -A$1.5bn to -A$2.0bn range, although investment performance remains highly volatile. While FUM is effectively flat calendar year-to-date, with outflows offset by positive market movements, we acknowledge it will be difficult for GQG to re-rate until the current outflow cycle ends. We lower our GQG FY26F/FY27F EPS forecasts by 1%-5% and reduce our price target to A$1.64 (from A$1.92). While the near-term operating environment remains difficult, we continue to see long-term value in the GQG franchise, trading at ~9x FY1 PE with a ~10% dividend yield. ACCUMULATE.

Helloworld Travel Ltd (ASX: HLO)

Another ASX share the broker has been looking at is Helloworld. Morgans has put a buy rating and $2.23 price target on this travel company's shares.

Based on its current share price of $1.39, this implies potential upside of around 60% for investors over the next 12 months. It said:

Given recent profit downgrades from other travel industry peers due to the conflict in the Middle East, HLO's downgrade wasn't a surprise. It has revised its FY26 EBITDA guidance by 11-14%. We have downgraded our forecasts. We assume that the conflict and a subdued consumer environment continue to impact the 1H27, followed by a strong recovery in the 2H27. This could prove conservative given HLO's strong 1Q27 bookings. We are buyers of HLO during this period of short-term uncertainty and share price weakness because when operating conditions ultimately improve, both its earnings and share price leverage to the upside will be material.

Tetratherix Ltd (ASX: TTX)

A higher risk option for investors is regenerative medicine company Tetratherix.

Morgans has a speculative buy rating and $7.15 price target on the company's shares. Based on its current share price of $5.31, this implies potential upside of approximately 35%. It commented:

TTX successfully completes a placement to fund the expansion of its production facility and build on its customer success team. We have updated our model to reflect the new capital and take a more optimistic stance on FDA approval for its dental/orthopedic products. Independent research shows TTX's drug delivery platform can safely carry and protect fragile drugs when delivered through the nose. Future licensing opportunities are likely. Our valuation has increased to A$7.15 (was A$6.84). SPECULATIVE BUY.

The post Morgans says these ASX shares could deliver 23% to 60% returns appeared first on The Motley Fool Australia.

• Tetratherix Ltd (ASX: TTX) rose 10% 
• SDI Ltd (ASX: SDI) gained 7% 
• Saluda Medical Inc (ASX: SLD) climbed 7%. 

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. 

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. 

The post Are these rocketing ASX healthcare shares a must buy? appeared first on The Motley Fool Australia.

The S&P/ASX 200 Health Care Index (ASX: XHJ) is down more than 22% year to date. 

However, one exception has been the outperformance of Tetratherix Ltd (ASX: TTX). 

Company overview

Tetratherix engages in the development of a biostealth fluid matrix for regenerative medicine. 

The firm offers Tetramatrix as its primary product. It develops a biostealth fluid matrix that evolves regenerative medicine through the use of the firm's Tetramatrix platform technology. 

Its share price has rocketed in 2026, up 42% since the start of the year. 

Last week, the company released a quarterly update.

Tetratherix reported a strong quarter, highlighting 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 with Superpower. 

The company also advanced multiple clinical programs with positive tissue-healing results and expects FDA clearance for its bone regeneration technology later this year.

Morgans said the report reinforces that the ASX biotech company continues to tick off key milestones towards commercialisation.

What is Morgans' latest view on this ASX healthcare stock?

According to Morgans, this ASX healthcare stock is making solid progress in line with previously stated timelines across each of its franchises. 

We remain focused on upcoming catalysts across the four franchisees including: FDA clearance for the bone regeneration product Tegenix and TegenEOS); clinical progress for the tissue spacing products (Tutelix and Optelex) and the tissue healing products (TetraDerm); and product supply in the precision medicine franchise (STEPP).

Updated price target 

In a recent note out of Morgans, the broker said it has made no changes to its forecasts. 

However, it has reduced its price target to $6.84 (previously $7.03). 

We maintain our SPECULATIVE BUY recommendation and expect the cadence of news flow to increase over the balance of the year.

At the time of writing, this ASX healthcare stock is trading for approximately $4.71. 

Based on the updated price target from Morgans, this indicates a further upside of approximately 45%. 

Foolish Takeaway 

It's worth noting that investing in biotech stocks can come with big upside, but equal risk. 

Many of these types of companies are early-stage or pre-revenue, meaning their valuations often hinge on clinical trial results, regulatory approvals, or breakthrough announcements. 

On the flip side, successful outcomes can lead to rapid share price appreciation, making the sector attractive to investors willing to tolerate volatility.

The key is understanding that this space is driven more by binary outcomes and sentiment than steady earnings, so diversification and careful research are essential to managing the risk/reward balance.

As Morgans correctly pointed out, FDA clearance and clinical progress will be key factors to monitor for this ASX healthcare stock. 

The post Already up 42% this year, Morgans says this ASX healthcare stock can continue to rocket appeared first on The Motley Fool Australia.

Morgans has this week issued a new research report to its clients, slightly reducing its price target on Tetratherix shares, which we'll get to later.

Progress on several fronts

So what did the company say this week?

Tetratherix's key technology is a fluid matrix that can be used in regenerative medicine across multiple applications.

Chief executive Will Knox said in this week's statement to the ASX that the third quarter was "another strong quarter for Tetratherix as we continued to deliver against key commercial, clinical and strategic milestones''.

He added:

We confirmed readiness to commercialise Tegenix through a global quality and supply agreement with Henry Schein. We also expanded into precision medicine with STEPP, our drug‑delivery platform that has been under stealth development for more than five years. This was folowed by an exclusive R&D agreement with Superpower, under which Tetratherix wil receive licence fees of US$3 milion per year for up to 10 years, together with ongoing purchases of STEPP to support R&D formulation for the US market.

Mr Knox said the company also advanced multiple clinical programs, with encouraging results across tissue healing, "including positive outcomes from the TetraDerm Cohort 1 and 2 studies, and [the company] accelerated the Tutelix pivotal trial program following the successful Series A capital raise by our joint‑venture partner''.

The company was also expecting Food & Drug Administration clearance for its bone regeneration technology this calendar year.

Shares looking cheap

The analyst team at Morgans agreed it was a strong quarter, "achieving multiple clinical, commercial and operational milestones as it advances toward commercialisation''.

The broker said:

Using its innovative Tetramatrix platform technology TTX can develop solutions for multiple medical conditions. TTX is looking to partner with specialist companies to assist with clinical trial, regulatory approvals and market access. We use a discounted cash flow method to value TTX at $6.84. We have set the target price at the same level. We have a speculative buy recommendation on TTX.

Morgans said the company had multiple catalysts for a share price rerating, although it cautioned that positive clinical trial results were not certain and navigating regulatory pathways can be complex.

If the share price were to hit Morgans' price target, it would be a 45.8% return from the current level of $4.69.

Tetratherix is currently valued at $126.9 million.

The post This ASX biotech stock could deliver 40%-plus returns Morgans says appeared first on The Motley Fool Australia.