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Highlights

  • Analysts from Bell Potter and Wilsons rate Telix Pharmaceuticals as a BUY/OVERWEIGHT, with price targets as high as AUD 35.

  • Current target price implies an upside potential of up to 43.03% from the current share price of AUD 24.04.

  • Gozellix® receives permanent HCPCS code in the U.S., supporting broader reimbursement and clinical adoption.

Telix Pharmaceuticals Ltd (ASX:TLX; NASDAQ:TLX) has garnered bullish sentiment from major analysts, with multiple BUY ratings and significant upside potential. As of the latest update, the company’s current target price stands at AUD 33.84—representing a 40.77% upside from its last close at AUD 24.04.

Bell Potter Securities (Institutional) has reaffirmed a BUY rating with a price target of AUD 34.00, reflecting a 38.95% upside. Wilsons has maintained an OVERWEIGHT stance with an even more bullish target of AUD 35.00, suggesting a 43.03% gain. Jefferies also maintains a BUY recommendation with a target of AUD 34.50, reinforcing market confidence in Telix’s momentum.

Commercial Milestone: Gozellix® Gains U.S. Reimbursement Code

In a key regulatory milestone, Telix announced on 9 July 2025 that its next-generation PSMA PET imaging agent, Gozellix®, has been granted a permanent HCPCS Level II code (A9616) by the U.S. Centers for Medicare & Medicaid Services (CMS), effective 1 October 2025. This designation will streamline billing and reimbursement processes for providers, accelerating clinical adoption.

Gozellix, which uses gallium-68 radiolabelling, is used for PET scanning of PSMA-positive lesions in men with prostate cancer. It is indicated for both initial staging and cases with suspected biochemical recurrence. With improved shelf-life and flexible production logistics, the agent addresses key limitations in current PSMA-PET imaging.

The CMS code assignment is a stepping stone toward receiving Transitional Pass-Through (TPT) payment status in the U.S.

Revenue Surges 62% in Q1 2025; Guidance Reaffirmed

Telix continues to deliver positive financial performance in latest quarter. For Q1 2025, the company reported unaudited revenue of USD 186 million, marking a 62% increase year-over-year and a 31% increase quarter-over-quarter.

  • Illuccix®, the company’s flagship radiopharmaceutical, generated USD 151 million in global sales during the quarter, up 35% from Q1 2024.

  • An additional USD 33 million in revenue was contributed by RLS Radiopharmacies, which Telix acquired in January 2025.

Telix reaffirmed its FY25 revenue guidance of USD 770–800 million, which includes contributions from Illuccix sales and 11 months of revenue from RLS. This guidance may be revised upward once U.S. reimbursement for Gozellix and international approval for Illuccix are secured.

R&D investment is also set to rise, with Telix projecting a 20–25% increase in expenditure for FY25 compared to FY24.