Identifying Two ASX Healthcare Shares Poised for a Significant Rally

As Australia collectively experiences a sense of economic relief with the Reserve Bank deciding to maintain interest rates, the outlook for certain stocks appears optimistic in 2024. This is particularly true for companies in the healthcare sector of ASX, especially those in the developmental or early commercial stages of their products. Let's delve into two such entities poised for potential growth in the coming year.

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1. Telix Pharmaceuticals Ltd (ASX: TLX)

Telix Pharmaceuticals, specializing in cancer diagnostics and therapy, has witnessed a tumultuous ride in 2023, characteristic of early-stage biopharmaceutical ventures. After a significant surge of nearly 80% from the beginning of the year to mid-June, a sharp decline of 34% in October was followed by a recent recovery, leaving the shares up by 39.4% year-to-date. Despite the recovery, the share price remains more than 21% off its June peak, suggesting considerable growth potential in 2024.


The company achieved a significant milestone by launching its first commercial product, Illucix, in the US last year, marking its transition from the pre-revenue phase. With robust sales and imminent entry into the Australian market, Telix is well-positioned for growth. Additionally, the company's pipeline includes several diagnostic and therapeutic products for various cancers, currently undergoing testing or awaiting regulatory approval. The introduction of each product represents a potential catalyst for stock price growth. Telix enjoys favorable ratings from the professional community, with all seven analysts surveyed on CMC Invest endorsing it as a buy.

2. Neuren Pharmaceuticals Ltd (ASX: NEU)

Neuren Pharmaceuticals has experienced a rollercoaster year, with a more than 80% surge in its share price year-to-date and an astounding 113% increase over the past 12 months. The stock's trajectory included a 30% decline from July to October, only to witness a remarkable rebound since late October, soaring 54%. Despite these fluctuations, analysts remain bullish on Neuren's prospects.


The company is currently conducting phase 2 trials for its second drug candidate, NNZ-2591, targeting a range of disorders. Anticipation is high for the phase 2 top-line results, particularly for Phelan McDermid syndrome (PMS), expected in December 2023. Neuren already generates revenue by licensing its Daybue product to US giant Acadia Pharmaceuticals Inc (NASDAQ: ACAD). Despite the steep rise in share price, all five analysts surveyed on CMC Invest maintain a buy recommendation for Neuren, emphasizing the company's promising outlook.

Location: Australia

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