Shares in Australian biotechnology company CSL have climbed to their highest level since early March, buoyed by positive analyst sentiment. At 3.05pm AEST, CSL’s stock was up 3.5 per cent, trading at $264.35. This surge contributes to a nearly 10 per cent gain in the past month for the healthcare heavyweight. CSL is a global biotechnology leader that develops and delivers innovative medicines, including those to treat haemophilia and immune deficiencies, and also influenza vaccines. The company has a strong focus on research and development to address unmet medical needs.
Despite ongoing concerns about potential trade impacts, including the risk of a 200 per cent tariff on pharmaceuticals flagged by former US President Donald Trump, Morningstar suggested earlier in the month that CSL’s stock was undervalued. These concerns have not stopped positive price movements.
Adding to the positive momentum, Baptista Research initiated coverage on Tuesday with a ‘buy’ recommendation for CSL. The research firm has set a target price of $362.30 for the company’s shares, suggesting further upside potential. Investors are closely monitoring CSL’s performance amid ongoing market volatility and global trade uncertainties.