Why Imugene, Neuren, Sigma, and Smartgroup shares are charging higher

The S&P/ASX 200 Index (ASX: XJO) is having a great finish to the week. In afternoon trade, the benchmark index is up 0.9% to 8,299.4 points.

Four ASX shares that are rising more than most are listed below. Here's why they are charging higher:

Imugene Ltd (ASX: IMU)

The Imugene share price is up 4.5% to 4.7 cents. This morning, this clinical-stage immune-oncology company announced the opening of the first Australian site for its azer-cel phase 1b clinical trial. The release notes that the Royal Prince Alfred Hospital in Sydney will begin patient recruitment in November, marking another significant milestone in the development of its promising off-the-shelf allogeneic CAR Tcell therapy.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price is up 14% to $16.38. Investors have been buying this pharmaceuticals company's shares since the release of its third quarter update this week. Neuren revealed that Daybue net sales for the last nine months exceeded the full-year threshold of US$250 million for Neuren's first sales milestone income of US$50 million. In addition, third quarter royalty income came in at A$13.2 million, which brings the total to A$37.5 million year to date. Neuren also advised that it expects full year 2024 income to be A$216 million to A$218 million.

Sigma Healthcare Ltd (ASX: SIG)

The Sigma Healthcare share price is up 7% to $2.60. This pharmacy chain operator and wholesale distributor's shares have been on fire this week after the ACCC approved its merger with Chemist Warehouse. Sigma's CEO, Vikesh Ramsunder, said: "The ACCC decision marks a critical milestone for the proposed transaction and provides us with the conviction to progress with the next steps in the process. The proposed transaction has the potential to create a leading ASX listed healthcare company through the combination of the complementary strengths of Sigma's state-of-the-art pharmaceutical distribution infrastructure with Chemist Warehouse Group's retailing know-how."

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price is up 4% to $7.98. Investors have been buying this salary packaging and fleet management company's shares following the release of a broker note out of Bell Potter. According to the note, the broker has reaffirmed its buy rating on its shares with an improved price target of $10.00. Bell Potter said: "Traditional volume drivers continue to demonstrate cooling in the broader auto market. Upon closer examination, we view SIQ as reasonable buying at the current levels and review key developments."

The post Why Imugene, Neuren, Sigma, and Smartgroup shares are charging higher appeared first on The Motley Fool Australia.

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. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Smartgroup. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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