Also leading the ASX’s four-month rally is Neuren...

Also leading the ASX’s four-month rally is Neuren Pharmaceuticals, which has also jumped more than 85 per cent as investor excitement surrounding the launch of its Rett Syndrome treatment in the US.

The stock did give back 13 per cent this month following a report from short seller Culper Research, claiming the company’s US licensee had misrepresented the drug’s safety and patient retention rate.

But the report has not spooked the six research firms recommending the stock, including Bell Potter, Canaccord Genuity and Jefferies.

Bell Potter analysts Thomas Wakim upgraded the shares to a buy at the end of last year, following results from a drug trial aimed at treating the genetic condition PhelanMcDermid syndrome.

“We have far greater confidence following these phase two results,” he said at the time.

Responding to the short report last week, portfolio manager Jack Hu, who ranks Neuron among his largest positions in the Phoneix Growth Fund, appeared largely unfazed.

“Investor reactions to negative reports are often quick and irrational,” he said in a note to investors. “Our analysis … yields a materially different outcome from Culper’s report.”