Fortunately for growth investors, the Australian share market offers a wealth of quality options. Here are two ASX 200 growth shares that brokers have rated as top buys:
Neuren Pharmaceuticals Ltd (ASX: NEU)
Neuren Pharmaceuticals is a biotechnology company focused on developing treatments for rare and serious diseases affecting the central nervous system. Among its promising pipeline, the company's second drug candidate, NNZ-2591, is particularly noteworthy. This drug is currently in phase 2 development and is being tested for its efficacy in treating multiple neurodevelopmental disorders. Clinical trials have so far shown positive results for conditions such as Phelan-McDermid syndrome and Pitt Hopkins syndrome, which are both severe genetic disorders that affect neurological development. The promising outcomes of these trials suggest that NNZ-2591 could become a crucial treatment for these rare diseases, potentially driving significant growth for Neuren Pharmaceuticals.
ResMed Inc. (ASX: RMD)
ResMed Inc. is a leading medical device company specializing in products that diagnose, treat, and manage sleep apnea and other chronic respiratory disorders. Analysts at Morgans, a well-respected brokerage firm, have highlighted ResMed as a top ASX 200 growth share to buy. Despite recent concerns about the impact of weight loss drugs on the company's market, Morgans remains optimistic. The broker argues that the sleep disorder breathing market is vast and significantly underserved, offering substantial growth opportunities for ResMed. Morgans has assigned an "add" rating to ResMed's shares and set a price target of $34.11. Considering the current share price of $28.39, this target implies a potential upside of approximately 20% over the next 12 months. This forecast is based on the company's robust market position and the high demand for effective sleep disorder treatments, which are expected to drive ResMed's financial performance and shareholder value in the coming year.