ACW, IHL & CGS: ASX healthcare penny stocks with over 150% returns in one year - Kalkine Media

April 06, 2022 02:56 PM AEST | By Aditi Sarkar
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  • Penny stocks have strong potential to yield lucrative rewards.
  • They are extremely volatile; thus, investors should do proper due diligence.
  • ACW, IHL and CGS are among the penny stocks from the ASX healthcare space that have delivered strong returns in the last twelve months.

The share price of penny stocks often trades below a dollar value. They are considered to be a high-risk venture. However, they hold the potential to yield commendable rewards and offer high growth in a short period.

The healthcare sector has gained traction in the recent times, backed by the increased demand for medical services and facilities across the globe.

In this article, we discuss three penny stocks from the ASX healthcare space that have provided more than 150% returns in the last 52 weeks.

Interesting read: ASX stocks in focus amid Australia’s record health budget  

Actinogen Medical Limited (ASX: ACW)

Actinogen Medical is a biotechnology company with a market capitalisation of over AU$177 million, as of 6 April 2022. The company is engaged in the development of a novel therapy for neurological conditions. Xanamem®, its lead compound, is currently under development targeting neurological diseases including depression, Alzheimer’s disease, and Fragile X syndrome.

In the half-year ended 31 Dec 2021, the company swiftly advanced the Xanamem® clinical development pipeline on multiple fronts such as securing approval to proceed under a US FDA IND for Phase 2 XanaFX trial. Further, it completed a capital raising program of AU$13.3 million to fund the expansion of its clinical development pipeline.

Shares of ACW were trading at AU$0.100 midday on 6 April 2022. The 52-week total return for the stock stands at nearly 150%.

Must Read: From IMC to ALA: Healthcare stocks with best YTD returns

Incannex Healthcare Limited (ASX: IHL)

Incannex specialises in cannabis pharmaceutical products

Image source: © Saletomic   |

Incannex, a clinical-stage pharmaceutical company, has given nearly 150% return to its investors in the last 52-weeks, as of 6 April 2022. The company has a market capitalisation of almost AU$617.29 million.

Eyeing unmet medical needs, Incannex is committed to the development of unique medicinal cannabis pharmaceutical products and psychedelic medicine therapies.

Recently, Incannex reached an agreement to acquire innovative biotechnology company APIRx Pharmaceutical US. The transaction would add an extensive intellectual property portfolio with granted and pending patents. Further, it is expected to grow the company’s addressable market sizes on the global front by more than US$400 billion per year.

Related read: Incannex (ASX: IHL) signs term sheet to snap up APIRx Pharmaceutical USA

IHL shares were trading at AU$0.500 midday on 6 April 2022, down 1.961% from the last close.

Cogstate Limited (ASX: CGS)

Neuroscience technology company Cogstate has a market capitalisation of over AU$402 million, as of 6 April 2022. Its technologies are focused on delivering speedy, reliable, and highly sensitive computerised cognitive tests across many domains. Moreover, they aid with electronic clinical outcome assessment (eCOA) solutions.

In the half-year ended 31 Dec 2021, Cogstate reported a record revenue of AU$23.1 million, representing a surge of 67% year-on-year. EBIT or earnings before interest and tax stood at AU$6.1million compared to a loss of AU$0.4 million in the year-ago period.

CGS shares were trading down by more than 1% to AU$2.290 midday on 6 April 2022. The shares have gained over 154% over the past 52 weeks.

Also read: What is genetic engineering and how can it benefit healthcare?

Future of Biotech & Healthcare: Harnessing Inventive Approaches


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