Five healthcare penny stocks with strong YTD returns

Highlights 

  • Some healthcare providers have delivered good financial performances in FY21, leading to a triple-digit surge in their share prices.
  • ONE, ACW, PTX are some healthcare penny stocks that have cheered investors this year.
  • These returns might seem lucrative, but investors need to maintain caution while investing in penny stocks.

The healthcare industry has transformed at a rapid pace during the onset of the COVID-19 pandemic. Healthcare infrastructure and medical facilities had been utilised at their peak capacity in order to take control over the pandemic.

ASX healthcare penny stocks

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Consequently, some of the healthcare companies have reported better-than-expected business performances, leading to a massive surge in their stock prices this year. Let us have a look at five healthcare stocks that have cheered their investors with a massive rally this year.

Read more: Five ASX penny stocks for dividend fans

  1. Oneview Healthcare PLC (ASX:ONE)

Oneview provides software platforms to the healthcare industry and has a market capitalisation of AU$182.2 million. The company was able to cut its net loss by 22% to AU$4.4 million in 2H FY21 on the back of a 79% increase in non-recurring revenue.

 

Its Cloud Enterprise has given patients and their families the ability to communicate virtually with healthcare teams during the pandemic. The ONE share price has delivered a massive return of 800% this year and is currently trading at AU$0.41.

 

  1. Actinogen Medical Limited (ASX:ACW)

Actinogen Medical is an AU$175.6 million biotechnology company. In FY21, it cut its losses from AU$5.33 million to AU$3.91 million and massively increased its net cash position to AU$13.42 million from AU$5.04 million a year ago.

 

For FY22, the management is working on strengthening its strategic and expert partnerships. The ACW share price is trading at AU$0.11 and has delivered a 400% gain this year.

 

  1. Prescient Therapeutics Limited (ASX:PTX)

Prescient Therapeutics is a small molecule drug development company, having a market capitalisation of AU$177.2 million. Net assets for FY21 increased to AU$20,427,267, a healthy increase of AU$9,239,108 over last year.

 

Operating cash outflows for the reported year increased to AU$3.97 million, as compared with AU$2.31 million in 2020. The PTX share price has delivered a 310.4% return this year and is currently trading at AU$0.28.

 

  1. IDT Australia Limited (ASX:IDT)

Pharmaceutical company, IDT Australia’s share price has rallied over 224.3% this year as the company recorded a 209.6% increase in the net profit to AU$2.1 million for FY21. Revenue for the reported year was also up 19.5% to AU$16.9 million, finishing the year with a cash balance of AU$6.9 million.

 

The company has a market capitalisation of AU$143.9 million and its share price is trading at AU$0.6.

 

  1. MGC Pharmaceuticals Limited (ASX:MXC)

MGC Pharmaceuticals is a Europe-based bio-pharma company with a market capitalisation of AU$140 million. The MXC share price has delivered a year-to-date return of 136% and is currently trading at 0.06.

 

In the quarter ended 30 June 2021, the company posted record sales of ~AU$945K in revenue, comprising ~AU$665,000 of phytocannabinoid medicines. It had also received second Wholesale purchase order for ArtemiCTM from Swiss PharmaCan, amounting to AU$1 million in revenue.

Bottom Lime

As the COVID-19 pandemic had proven to be a nightmare for many industries, the healthcare sector, despite taking an initial hit has been able to turn it into an opportunity. Consequently, some healthcare stocks have skyrocketed to triple-digit returns this year, making investors cheer all the way to the bank. 

These returns might seem lucrative, but investors need to tread caution while investing in penny stocks.

Read More: Five ASX stocks under 50 cents which are in bull run

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