Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher

These ASX shares are having very positive days…
The post Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its lows but still in the red. At the time of writing, the benchmark index is down 0.2% to 7,422.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are racing higher:

Accent Group Ltd (ASX: AX1)

The Accent share price has jumped 11.5% to $2.29. Investors have been buying the footwear retailer’s shares after Morgan Stanley upgraded them to an overweight rating with a $2.60 price target. The broker made the move partly on the belief that the company will open more stores than forecast in FY 2022. It also sees opportunities for its store network to expand internationally in the future.

Calix Ltd (ASX: CXL)

The Calix share price has rocketed 37% higher to $5.26. Investors have been buying the new materials company’s shares after Carbon Direct invested US$15 million into one of its subsidiaries. As part of the deal, Calix has entered into a licence agreement that will earn it royalties from the deployment of its technology.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 8.5% to $2.45. Investors have been buying the lithium miner’s shares after it released the results of its second lithium spodumene concentrate digital auction. According to the update, Pilbara Minerals received a bid of US$2,240/dmt for 8,000 dmt of its spodumene concentrate. This was almost double what it received at its inaugural auction last month.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price is up 5% to $1.38. This morning the dendrimer products developer announced that it has been granted a new US patent in relation to DEP cabazitaxel. The release notes that the composition of matter patent builds on Starpharma’s suite of existing international DEP patents for the product. It specifically covers a DEP dendrimer conjugated to multiple cabazitaxel drug molecules via a particular releasable linker.

The post Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Top brokers name 3 ASX shares to buy today

Starpharma (ASX:SPL) share price surges 5% on United States patent news
There are the 3 most traded ASX 200 shares so far today

Which ASX 300 shares are on the move mid-week?

Why the Accent (ASX:AX1) share price is surging 12% today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Accent Group and Starpharma Holdings 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!