ASX January Health Winners: Artrya and EBR among the leaders in strong month

The ASX 200 Health Care Index rose in January but Morgans healthcare analyst Iain Wilkie notes February faces volatility with Trump’s tariffs playbook looming large.

Pic: Getty Images

• The S&P/ASX 200 Health Care Index rose 3.20% in January as the S&P/ASX 200 rose 5% to a record high

• Morgans healthcare analyst Iain Wilkie said February looking more volatile as new US tariffs placed on several countries

• EBR up 61% in January on positive news flow with its WiSE CRT FDA approval expected by April 13, 2025

The S&P/ASX 200 Health Care (ASX:XHJ) Index rose 3.20% in January as markets had a strong start to 2025 with the benchmark S&P/ASX 200 rising by 5% to reach a new record high.

Morgans healthcare analyst Iain Wilkie told Stockhead January was a strong month for the sector but we'll obviously have to wait and see how February plays out amid a Trump-tariff-induced trade skirmish.

"January is always very quiet and I always think January is a pretty good month to go shopping," Wilkie said.

"If there's anything which has been beaten down it's a good time to pick up some stocks when no one is really watching and you're not competing with other buyers."

New Zealand based  Fisher & Paykel Healthcare (ASX:FPH) revealed on Monday  it could be impacted by US President Donald Trump's latest proposed (but now paused for at least a month) tariffs on Mexico.

Measured by volume, the company said it made about 45% of its products in Mexico, with the remainder made in New Zealand.

About 60% of the Mexican output is supplied to the US and these products would be hit if a 25% tariff were to go ahead.

"Trump is now in the hot seat so things are moving quickly," Wilkie said.

"Fisher & Paykel may need to do a bit of a review."

Source S&P DJI

How ASX biotechs performed in January

CODE	COMPANY	PRICE	1 MONTH RETURN %	MARKET CAP
AYA	Artryalimited	90.5	70.8	71
MVP	Medical Developments	66.5	64.2	59
EBR	EBR Systems	165	61.0	601
PAR	Paradigm Bio.	58.5	56.0	205
ATH	Alterity Therap Ltd	1.2	50.0	63
SOM	SomnoMed Limited	65.5	42.4	142
OPT	Opthea Limited	114	40.7	1,244
CYC	Cyclopharm Limited	222	40.1	247
MAP	Microbalifesciences	26	33.3	116
DXB	Dimerix Ltd	45	32.4	248
CDX	Cardiex Limited	12.5	28.9	37
TRU	Truscreen	2.5	25.0	14
FRE	Firebrickpharma	7.5	21.0	14
AVE	Avecho Biotech Ltd	0.3	20.0	13
CTQ	Careteq Limited	1.2	20.0	3
TLX	Telix Pharmaceutical	2934	19.2	9,806
TRI	Trivarx Ltd	1.9	18.8	8
VTI	Vision Tech Inc	6.8	17.2	4
NEU	Neuren Pharmaceut.	1449	15.9	1,852
OCC	Orthocell Limited	157	15.9	329
ALC	Alcidion Group Ltd	6.9	15.0	93
NAN	Nanosonics Limited	345	14.6	1,045
PER	Percheron	0.8	14.3	7
PGC	Paragon Care Limited	54.5	13.5	902
4DX	4Dmedical Limited	54.5	13.5	224
NXS	Next Science Limited	13	13.0	38
ANR	Anatara Ls Ltd	5.3	12.8	10
AHC	Austco Healthcare	31	12.7	112
1AD	Adalta Limited	1.8	12.5	11
AVR	Anteris Technologies	929	12.3	179
NSB	Neuroscientific	3.7	12.1	5
ALA	Arovella Therapeutic	19	11.8	200
RHY	Rhythm Biosciences	9.7	11.5	23
PME	Pro Medicus Limited	27840	11.3	29,072
SHG	Singular Health	25	11.1	49
CGS	Cogstate Ltd	116	11.0	198
COH	Cochlear Limited	31963	10.3	20,881
PTX	Prescient Ltd	5.5	10.0	44
OCA	Oceania Healthc Ltd	73	9.8	529
SIG	Sigma Health Ltd	287	9.5	4,511
AGN	Argenica	70	9.4	87
RMD	ResMed Inc.	4018	9.3	59,007
IDT	IDT Australia Ltd	12	9.1	41
ACL	Au Clinical Labs	375	9.0	745
REG	Regis Healthcare Ltd	654	9.0	1,969
TRP	Tissue Repair	30.5	8.9	18
ACW	Actinogen Medical	2.7	8.0	72
CMP	Compumedics Limited	28.5	7.5	50
GLH	Global Health Ltd	14.5	7.4	8
IDX	Integral Diagnostics	312	7.2	730
BDX	Bcaldiagnostics	10.5	7.1	33
EBO	Ebos Group Ltd	3618	6.4	6,992
IXC	Invex Ther	7	6.1	5
IMR	Imricor Med Sys	144	5.9	292
SHL	Sonic Healthcare	2855	5.7	13,710
HLS	Healius	144.5	5.5	1,049
BMT	Beamtree Holdings	29	5.5	84
RHT	Resonance Health	5.9	5.4	26
ANN	Ansell Limited	3537	4.6	5,162
RAD	Radiopharm	2.5	4.2	12
AT1	Atomo Diagnostics	1.95	2.6	12
VBS	Vectus Biosystems	7.9	2.6	4
M7T	Mach7 Tech Limited	41	2.5	99
PNV	Polynovo Limited	209	2.5	1,443
MSB	Mesoblast Limited	317	2.3	3,618
AFP	Aft Pharmaceuticals	260	2.0	273
IPD	Impedimed Limited	5.35	1.9	111
IMC	Immuron Limited	8	1.3	18
PSQ	Pacific Smiles Grp	196	0.5	313
CUV	Clinuvel Pharmaceut.	1210	0.3	606
COV	Cleo Diagnostics	35.5	-	46
BOT	Botanix Pharma Ltd	43.5	-	787
AHX	Apiam Animal Health	40.5	-	73
CMB	Cambium Bio Limited	40	-	5
TD1	Tali Digital Limited	0.1	-	3
AGH	Althea Group	3.4	-	14
OSL	Oncosil Medical	0.6	-	20
1AI	Algorae Pharma	0.6	-	10
EMD	Emyria Limited	3.4	-	14
BP8	Bph Global Ltd	0.3	-	1
EOF	Ecofibre Limited	3	-	11
CSL	CSL Limited	28043	- 0.4	135,519
GSS	Genetic Signatures	62	- 1.6	133
FPH	Fisher & Paykel H.	3435	- 1.7	20,119
EMV	Emvision Medical	185.5	- 2.1	155
ATX	Amplia Therapeutics	8.7	- 2.2	18
SNZ	Summerset Grp Hldgs	1173	- 2.3	2,759
RHC	Ramsay Health Care	3374	- 2.3	7,720
IMU	Imugene Limited	3.6	- 2.7	264
ILA	Island Pharma	16.5	- 2.9	21
ACR	Acrux Limited	3.2	- 3.0	9
OIL	Optiscan Imaging	16	- 3.0	134
NOX	Noxopharm Limited	9	- 3.2	26
CBL	Control Bionics	5.8	- 3.3	12
PCK	Painchek Ltd	2.8	- 3.4	47
VFY	Vitrafy Life Science	164	- 3.5	#N/A
LTP	Ltr Pharma Limited	78	- 3.7	109
CYP	Cynata Therapeutics	23	- 4.2	41
SPL	Starpharma Holdings	10.5	- 4.5	43
RAC	Race Oncology Ltd	128.5	- 4.8	219
VIT	Vitura Health Ltd	7.8	- 4.9	45
ONE	Oneview Healthcare	28	- 5.1	189
MVF	Monash IVF Group Ltd	120.5	- 5.1	470
RCE	Recce Pharmaceutical	46	- 5.2	94
DOC	Doctor Care Anywhere	7.1	- 5.3	26
BB1	Blinklab Limited	26.5	- 5.4	#N/A
IMM	Immutep Ltd	34.5	- 5.5	501
LDX	Lumos Diagnostics	3.3	- 5.7	17
VLS	Vita Life Sciences..	188	- 6.0	106
IME	Imexhs Limited	35	- 6.7	16
MX1	Micro-X Limited	7.8	- 7.1	45
PYC	PYC Therapeutics	122	- 7.6	569
IIQ	Inoviq Ltd	47.5	- 7.8	42
TYP	Tryptamine Ltd	3.5	- 7.9	40
NC6	Nanollose Limited	1.7	- 8.0	3
MYX	Mayne Pharma Ltd	457	- 8.0	371
OSX	Osteopore Limited	3.4	- 8.1	4
HIQ	Hitiq Limited	4.4	- 8.3	15
ENL	Enlitic Inc.	5.5	- 8.3	#N/A
CSX	Cleanspace Holdings	42	- 8.7	32
BIT	Biotron Limited	1.6	- 11.1	14
ZLD	Zelira Therapeutics	55	- 11.3	6
CU6	Clarity Pharma	368	- 11.8	1,147
LGP	Little Green Pharma	11	- 12.0	36
CTE	Cryosite Limited	74.5	- 12.4	36
SNT	Syntara Limited	7	- 12.5	84
EYE	Nova EYE Medical Ltd	14	- 12.5	32
MEM	Memphasys Ltd	0.7	- 12.5	10
ICR	Intelicare Holdings	0.7	- 12.5	2
ADR	Adherium Ltd	1.2	- 14.3	9
CHM	Chimeric Therapeutic	0.6	- 14.3	5
NTI	Neurotech Intl	4.7	- 14.5	49
SDI	SDI Limited	98	- 14.8	116
HMD	Heramed Limited	1.7	- 15.0	11
CAN	Cann Group Ltd	3.3	- 15.4	16
RSH	Respiri Limited	6.9	- 16.9	79
UBI	Universal Biosensors	8.7	- 17.1	26
RGT	Argent Biopharma Ltd	14	- 17.6	6
ECS	ECS Botanics Holding	1.4	- 17.6	18
MDR	Medadvisor Limited	18.5	- 17.8	102
DVL	Dorsavi Ltd	0.9	- 18.2	6
CVB	Curvebeam Ai Limited	11	- 18.5	36
TRJ	Trajan Group Holding	92	- 18.6	140
PIQ	Proteomics Int Lab	64.5	- 19.4	84
CC5	Clever Culture	1.6	- 20.0	25
NYR	Nyrada Inc.	7.4	- 21.3	13
ARX	Aroa Biosurgery	58	- 24.7	200
PAB	Patrys Limited	0.3	- 25.0	6
NUZ	Neurizon Therapeutic	12.5	- 26.5	56
EZZ	EZZ Life Science	216	- 29.6	96
AVH	Avita Medical	299	- 29.6	392
UCM	Uscom Limited	2.1	- 34.4	5
IBX	Imagion Biosys Ltd	1.5	- 34.8	0
IVX	Invion Ltd	18	- 35.7	12
VFX	Visionflex Group Ltd	0.25	- 37.5	4
IRX	Inhalerx Limited	2	- 42.9	4
PEB	Pacific Edge	5.6	- 58.5	45

Artrya (ASX:AYA), a heart-care focused health tech company, was the top performer in January rising 70.8%.

Amid this rise, the company was hit with a please explain by the ASX, responding it was not aware of information that had not been announced to the market, which if known, could explain recent trading in its shares.

Artrya did note positive research reports on the company in late 2024. Investor anticipation of the US FDA 510(k) clearance for the company's Salix Coronary Anatomy product may be driving some price movement.

"The FDA have reviewed our application and have requested some additional information supporting the application," CEO Mathew Regan said in the Q2 FY25 results released on January 29.

"We are on track to respond to the request and remain confident of a clearance by the end of March 2025."

EBR Systems (ASX:EBR) rose 61% in January with several positive announcements and also a price query by the ASX. Among announcements EBR said the FDA manufacturing pre-approval inspection (PAI) had been successfully completed and it expected its WiSE CRT (cardiac resynchronisation therapy) system to gain approval on or before April 13, 2025, with commercial launch in H2 CY25.

The Centers for Medicare and Medicaid Services (CMS) has also accepted EBR’s WiSE CRT system into the highly selective Transitional Coverage for Emerging Technologies reimbursement pathway. EBR briefly hit Morgans’ price target of $1.76 in January before paring back gains.

Retinal-diseases-focused biotech Opthea (ASX:OPT) was up 40.7% in January. Opthea is awaiting two phase III trial results in CY25.

Topline data from its COAST phase III trial investigating OPT-302, in combination with aflibercept for the treatment of wet-AMD, was due early in Q2 CY25.

Results for its phase III ShORe trial investigating OPT-302 in combination with Ranibizumab in wet AMD are due in mid CY25.

"Opthea is very much straight out of the biotech playbook with very large and clear catalysts coming up," Wilkie said.

Cyclopharm (ASX:CYC) rose 40.1% in January and was also hit with a price query from the ASX early in the month. Cyclopharm also said it was unaware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain recent trading in its shares.

Later in the month, on January 28, Cyclopharm announced the signing of a major contract with Hospital Corporation of America Healthcare (HCA), one of the largest single healthcare providers in the US.

Cyclopharm said the agreement marked a significant milestone for the company which will allow deployment of its Technegas in up to 169 nuclear medicine departments across HCA's extensive network. Technegas is a nuclear medicine-based device to detect pulmonary embolisms.

In November Cyclopharm announced it had received purchase orders from two US Veterans Health Administration (VA) Hospitals.

"They have a pretty good road map if the initial sites like their product with years of new contracts and unit sales ahead of them so Cylopharm is definitely one to watch," Wilkie said.

At Stockhead, we tell it like it is. While EBR Systems is a  Stockhead advertisers, the company did not sponsor this article.