Updated on 7 January 2014
Alchemia is one of the biotech stocks well supported on the ASX in 2013, rising 48.1 percent to increase its market cap by USD60 million
Singapore: Analysis from leading healthcare fund manager BioScience Managers has highlighted the outstanding year for biotech stocks on the ASX in 2013 with an average gain of 53.6 percent across the sector.
These findings compare with the all ordinaries index that increased by 14.7 percent over 2013 and the S&P/ASX 200 Health Care Index which increased 23.5 percent for the calendar year and 79.9 percent over the past two years.
"Despite the strength in the sector many retail investors are still nervous when considering life sciences companies," said Mr. Matt McNamara, Chief Investment Officer.
"We've seen a surge of new listings in the US biotech scene with large price premiums and this sentiment is shared more among professional investors in Australia," he said.
BioScience Managers' investment Alchemia Limited is one of a number of examples of biotech stocks well supported on the ASX in 2013, rising 48.1 percent to increase its market cap by USD60 million.