10 ASX Biotechnology stocks to watch in 2023

Discover which are the best biotech stocks for your portfolio

Data as of 15 August 2023. Sources: Google Finance, Stake.

*The list of stocks mentioned is ranked by market cap. When deciding what stocks to feature, we analyse the financials, recent news, the state of the industry, and whether or not they are actively traded on Stake.

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Watch these biotechnology shares in 2023

1. CSL Limited ($CSL)

Market Capitalisation: $131b

Stock price (as of 15/08/2023): $272.80

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 72% / 28%

CSL is a global leader in the biotechnology sector, focusing on the development, manufacturing, and distribution of innovative biotherapies and vaccines. The company is renowned for its expertise in plasma-derived therapies, producing essential products such as immunoglobulins, clotting factors, and albumin. These therapies are vital for patients with immune deficiencies, bleeding disorders like haemophilia, and other medical conditions.

CSL invests significantly in research and development, aiming to address unmet medical needs and improve patient outcomes worldwide. The company's commitment to innovation and its broad range of life-saving products have positioned it as a key player in the biotech industry.

CSL has been featured on our list of the top ASX defensive stocks, as a strong share to protect a portfolio.

2. ResMed Inc ($RMD)

Market Capitalisation: $26.9b

Stock price (as of 15/08/2023): $28.34

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 74% / 26%

ResMed is a global leader in sleep and respiratory care solutions. The company develops cutting-edge medical devices and digital health technologies aimed at diagnosing, treating, and managing sleep-related disorders like sleep apnea and chronic obstructive pulmonary disease (COPD). ResMed's products include continuous positive airway pressure (CPAP) devices, which help individuals breathe more freely during sleep. Their cloud-connected platforms enable remote monitoring and personalised adjustments, enhancing patient compliance and outcomes.

ResMed's innovative approach to improving sleep quality and respiratory health has established it as a significant player in the medical technology space.

🆚 Compare CSL vs RMD stock→

3. Fisher & Paykel Healthcare ($FPH)

Market Capitalisation: $13.7b

Stock price (as of 15/08/2023): $21.38

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 47% / 53%

Fisher & Paykel Healthcare specialises in designing and manufacturing medical devices for respiratory care and sleep disorders. Their range of products includes advanced humidification systems, ventilators, and masks that improve patient comfort and therapy efficacy. The company's focus on enhancing the quality of life for individuals with conditions like sleep apnea and COPD has led to the development of innovative solutions that optimise treatment outcomes. Fisher & Paykel Healthcare's dedication to providing high-quality respiratory care products has earned it a reputation as a leading global player in the medical technology industry.

4. Telix Pharmaceuticals ($TLX)

Market Capitalisation: $3.2b

Stock price (as of 15/08/2023): $10.18

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 61% / 39%

Telix Pharmaceuticals is a biotech company focused on targeted molecular radiation therapies for cancer treatment. Their radiopharmaceuticals combine radioactive isotopes with molecules designed to specifically target cancer cells. This precision approach minimises damage to healthy tissue while delivering therapeutic radiation to tumours.

Telix's innovative technology has the potential to revolutionise cancer treatment by providing more effective and less invasive therapeutic options. The company's commitment to advancing precision oncology positions it at the forefront of the fight against cancer.

💡Related: Are these the best pharmaceutical stocks to watch?→

5. Polynovo ($PNV)

Market Capitalisation: $1.1b

Stock price (as of 15/08/2023): $1.67

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 57% / 43%

Polynovo specialises in developing regenerative solutions for wound healing and tissue repair. The NovoSorb technology platform involves biodegradable polymers that promote healing while minimising scarring. Polynovo's products have applications in surgical procedures, trauma, and wound care. By addressing the challenges of wound healing, the company aims to improve patient outcomes and reduce the burden on healthcare systems. Polynovo's dedication to innovative wound care solutions highlights its potential to transform medical practices and enhance patient recovery.

6. Clinuvel Pharmaceuticals ($CUV)

Market Capitalisation: $1b

Stock price (as of 15/08/2023): $20.32

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 63% / 37%

Clinuvel Pharmaceuticals is dedicated to treating rare and severe skin disorders caused by exposure to light. The company's lead product, Scenesse, provides photoprotection by increasing melanin production in the skin. This innovative approach offers relief to patients with conditions like erythropoietic protoporphyria (EPP) and polymorphic light eruption (PLE), who previously had limited treatment options. Clinuvel's commitment to addressing unmet medical needs and improving the lives of individuals with rare disorders demonstrates its significant impact on the field of dermatology.

7. Imugene ($IMU)

Market Capitalisation: $597m

Stock price (as of 15/08/2023): $0.09

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 67% / 33%

Imugene is a biotech company specialising in immunotherapies for cancer treatment. Their pipeline includes a range of immunotherapies designed to stimulate the immune system's response against cancer cells. Imugene's innovative approach harnesses the body's natural defences to target and eliminate cancer, potentially revolutionising cancer treatment strategies. The company's dedication to advancing immunotherapies highlights its potential to contribute to the evolving landscape of cancer care.

8. Avita Therapeutics ($AVH)

Market Capitalisation: $451m

Stock price (as of 15/08/2023): $5.45

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 53% / 47%

Avita Therapeutics is a regenerative medicine company focused on treating burns and skin defects using the Recell Autologous Cell Harvesting Device. This technology allows for the rapid preparation of a patient's own skin cells for use in wound healing. Avita's innovative approach to regenerative therapies offers a potentially transformative solution for burn patients, reducing healing time and improving outcomes. The company's commitment to advancing regenerative medicine highlights its potential to revolutionise the treatment of skin injuries.

9. Mesoblast ($MSB)

Market Capitalisation: $190m

Stock price (as of 15/08/2023): $0.36

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 66% / 34%

Mesoblast specialises in regenerative medicine using mesenchymal lineage adult stem cells. The company's pipeline includes treatments for cardiovascular diseases, orthopaedic disorders, and inflammatory conditions. By harnessing the therapeutic potential of stem cells, Mesoblast aims to address a wide range of medical needs, from enhancing heart function to promoting bone repair. The company's commitment to innovative regenerative therapies highlights its potential to impact multiple medical specialities.

10. Starpharma ($SPL)

Market Capitalisation: $69m

Stock price (as of 15/08/2023): $0.17

Stake Platform Bought / Sold (1 Jan 2023 - 15 Aug 2023): 64% / 36%

Starpharma is a biopharmaceutical company that focuses on dendrimer-based nanotechnologies for various applications, including pharmaceuticals, life sciences, and agrochemicals. Their DEP platform aims to enhance drug delivery and therapeutic efficacy by improving the performance of existing treatments. Starpharma's innovative approach to nanotechnology has the potential to optimise treatment outcomes across different fields, from improving drug solubility to enhancing targeted delivery.

How to invest in biotech stocks?

Want to start buying biotech shares but not sure how? Learn how to buy biotech stocks on the Stake stock investing platform below.

1. Find a stock investing platform

To buy ASX-listed companies, you'll need to sign up to an investing platform with access to the ASX. There are a number of share trading platforms in Australia, of which Stake is one.

2. Fund your account

Complete an application with your personal and financial details. Fund your account with a bank transfer, debit card or even Apple/Google Pay.

3. Search for the desired stock

Find the share by name or ticker symbol. Do your own research to ensure it is the right investment product for your own circumstances.

4. Choose an order type and buy shares

Buy on any trading day with a market order or use a limit order to delay your purchase of shares until it reaches your desired stock price. Look into dollar cost averaging to spread out your risk, which smooths out buying at consistent intervals.

5. Monitor your investment

Optimise your portfolio by tracking how your stock and the business perform with an eye on the long term. You may be eligible for dividends and shareholder voting rights that affect your stock.

What biotech stocks are under $5?

Here's a list of 10 biotech shares below $5:

• Immutep Limited ($IMM)
• Adalta Limited ($1AD)
• Prescient Therapeutics Limited ($PTX)
• Orthocell Limited ($OCC)
• Opthea Limited ($OPT)
• Impedimed Limited ($IPD)
• Alterity Therapeutics Limited ($ATH)
• Patrys Limited ($PAB)
• Actinogen Medical Limited ($ACW)
• Noxopharm Limited ($NOX)

ASX Biotechnology stocks FAQs

This does not constitute financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking appropriate financial or taxation advice before investing.