Brokers See Big Upside in this ASX Healthcare Stock

Sonal Goyal

23 February 2026 02:17 PM AEDT

Brokers See Big Upside in this ASX Healthcare Stock

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Highlights

FY25 revenue increased 56% year-on-year to USD 803.8 million, meeting upgraded guidance.
Telix provided FY26 revenue guidance of USD 950–970 million and R&D investment guidance of USD 200–240 million.
Multiple brokers issued Buy or Outperform ratings with target prices ranging from AUD 19.00 to AUD 28.50.

Telix Pharmaceuticals Limited (ASX:TLX) has secured positive rating from multiple brokers, citing valuation upside based on their respective target prices. Recently, the company reported FY25 revenue of USD 803.8 million, a 56% increase year-on-year, while outlining expanded investment across its therapeutic and precision medicine pipeline.

Today, TLX shares were trading 7.38% lower at AUD 9.66 per share at the time of writing on 23 February 2026.

Brokers Issue Buy Ratings with Targets Above Market

Canaccord Genuity issued a Buy rating with a target price of AUD 28.50.
Bell Potter Securities (Institutional) maintained a Buy rating with a target of AUD 19.00.
Jefferies set a Buy rating with a target price of AUD 23.40.
TD Cowen issued a Buy rating and a target of AUD 20.00.
Wedbush Securities Inc. assigned an Outperform rating with a target price of AUD 22.00.

The target prices outlined by brokers sit above recent trading levels, indicating expectations for further share price appreciation based on earnings outlook and pipeline progression.

FY25 Revenue Climbs to USD 803.8 Million

Telix delivered FY25 revenue of USD 803.8 million, compared with USD 516.6 million in FY24, meeting upgraded full-year guidance of USD 800–820 million.

Gross profit reached USD 426.4 million, while adjusted EBITDA was USD 39.5 million. The company reported a loss before tax of USD 5.3 million, which included non-cash finance costs related to convertible bonds and amortisation following the RLS acquisition.

Year-end cash stood at USD 141.9 million, after USD 246.4 million in strategic investments and USD 34.5 million generated from operating activities before a final contingent payment linked to the ANMI acquisition.

For FY26, Telix provided revenue guidance of USD 950–970 million, alongside pipeline R&D expenditure guidance of USD 200–240 million.

Precision Medicine Drives Segment Performance

The Precision Medicine division reported revenue growth of 22% year-on-year, supported by increased Illuccix® volumes and the U.S. launch of Gozellix®.

Segment adjusted EBITDA rose 24% to USD 216.4 million, while gross margin remained at 64%.

Across the broader pipeline, Telix progressed multiple late-stage assets, including TLX591-Tx in prostate cancer, TLX250-Tx in renal cancer and TLX101-Tx in glioblastoma, alongside additional Phase 1 programs in targeted alpha therapy and bone pain.

Telix enters FY26 with expanded commercial revenue, continued pipeline advancement and updated financial guidance. Broker target prices published following the results indicate valuation levels above recent trading ranges, placing the ASX-listed healthcare stock in focus for market participants.

Frequently Asked Questions (F&Q)

What were Telix’s FY25 revenue results?
Telix reported FY25 revenue of USD 803.8 million, representing a 56% increase compared with FY24.
What guidance has Telix provided for FY26?
The company expects FY26 Group revenue between USD 950 million and USD 970 million, with pipeline R&D expenditure of USD 200–240 million.
What are brokers’ target prices for TLX?
Canaccord Genuity set a target of AUD 28.50, Bell Potter AUD 19.00, Jefferies AUD 23.40, TD Cowen AUD 20.00, and Wedbush Securities AUD 22.00.

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