CSL (ASX:CSL) share price holds the line in November

It didn’t make great strides but it wasn’t a bad month for the biotech giant…
The post CSL (ASX:CSL) share price holds the line in November appeared first on The Motley Fool Australia. –

The CSL Limited (ASX: CSL) share price held the fort during November and finished just over 2% in the green for the month.

While it finished relatively flat, the biotech giant’s share price nudged past its previous 52-week highs. It closed as high as $318 and traded as low as $300 per share.

CSL outperforms broad sector in November

The CSL share price outpaced the S&P/ASX 200 Health Care Index (ASX: XHJ) which traded in an almost synchronised fashion to the Aussie biotech’s share price over the last month.

Near month’s end, the company advised its Seqirus business was granted approval from the US Food and Drug Administration to formulate a multi-dose vial (MDV) version of its Audenz label.  

The particular MDV is described as a cell-based influenza vaccine designed to help protect individuals in the event of an influenza pandemic.

Seqirus has a partnership with the Biomedical Advanced Research and Development Authority (BARDA) where it will be positioned to deliver up to 150 million influenza vaccine doses to the US to combat an influenza pandemic within six months. The CSL share price gained on the back of the news.

CSL vs S&P/ASX 200 Health Care Index: November returns in percentages

Source: Google Finance. Google and the Google logo are registered trademarks of Google LLC, used with permission

CSL also recently advised it had secured financing to develop an incubator and wet space lab to support clinical-stage biotechnology startups. The Victorian government is also set to chip in.

In the company’s words, incubators break down cost barriers and other barriers to entry for start-ups. Incubators offer a ‘one-stop shop’ by minimising cost-prohibitive expenditures that otherwise price small biotechs out of the market.

However, the CSL share price struggled on the day the news was announced.

Several investment firms weighed in with their opinion on CSL’s outlook during the month as well. Morgan Stanley notes competitor Haemonetics Corporation (NYSE: HAE)’s recent earnings update where it lowered its plasma collection guidance moving forwards.

The firm reckons this could be a challenge to CSL’s earnings, particularly with the ever-looming threat of another COVID-19 outbreak that would further diminish plasma donation volumes. Macquarie Group Ltd (ASX: MQG) is more constructive on CSL and values the company at $338 per share.

While it’s been a difficult year to date for CSL, it held onto gains earned from the month earlier, where it bounced off a low of $286.19 in line with the broad sector.

The CSL share price is up around 1% in the past 12 months and around 5% this year to date. In the past month, the company’s share price has slipped just over 3% and it closed the week down 6%.

The post CSL (ASX:CSL) share price holds the line in November appeared first on The Motley Fool Australia.

Should you invest $1,000 in CSL right now?

Before you consider CSL, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CSL wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

What’s going on with the CSL (ASX:CSL) share price on Friday?

ASX 200 (ASX:XJO) midday update: BHP higher on unification plans, TPG tumbles

You want an ASX share to hold for 4 years? Here are 2!

5 things to watch on the ASX 200 on Friday

CSL (ASX:CSL) share price dips amid $10b acquisition rumours

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!