Telix Pharmaceuticals (NASDAQ:TLX) Shares Gap Down - What's Next?

Key Points

• Telix Pharmaceuticals shares fell sharply, opening at $10.25 versus a prior close of $11.16 and trading around $10.06, a decline of about 10%.
• Analyst sentiment remains generally positive: four analysts rate the stock Buy and one rates it Hold, producing a consensus Moderate Buy rating and an average price target of $20.50.
• Several institutional investors increased or initiated positions in Telix, while the company continues to focus on radiopharmaceuticals, including its commercial prostate-cancer imaging product Illuccix.

Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report) shares gapped down prior to trading on Wednesday. The stock had previously closed at $11.16, but opened at $10.25. Telix Pharmaceuticals shares last traded at $10.0550, with a volume of 152,870 shares trading hands.

Analyst Ratings Changes

Several equities analysts have issued reports on TLX shares. Royal Bank Of Canada upgraded shares of Telix Pharmaceuticals from a "hold" rating to a "moderate buy" rating in a research note on Monday, September 21st. Weiss Ratings upgraded shares of Telix Pharmaceuticals from a "sell (d)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Citigroup reiterated a "buy" rating on shares of Telix Pharmaceuticals in a research note on Thursday, August 20th. HC Wainwright reiterated a "buy" rating and set a $20.00 price target on shares of Telix Pharmaceuticals in a research note on Friday, September 25th. Finally, Wedbush reissued an "outperform" rating and set a $22.00 price objective on shares of Telix Pharmaceuticals in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

Telix Pharmaceuticals Trading Down 10.0%

The company has a quick ratio of 1.85, a current ratio of 2.01 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $11.49 and a two-hundred day simple moving average of $10.78.

Institutional Investors Weigh In On Telix Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. WoodTrust Financial Corp purchased a new position in Telix Pharmaceuticals in the 3rd quarter valued at $186,000. XY Capital Ltd increased its stake in Telix Pharmaceuticals by 468.0% in the 2nd quarter. XY Capital Ltd now owns 71,291 shares of the company's stock valued at $822,000 after buying an additional 58,739 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Telix Pharmaceuticals in the 2nd quarter valued at $1,731,000. Bank of America Corp DE raised its position in Telix Pharmaceuticals by 523.8% during the 1st quarter. Bank of America Corp DE now owns 10,031 shares of the company's stock worth $96,000 after buying an additional 8,423 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Telix Pharmaceuticals by 15.7% during the 1st quarter. Lazard Asset Management LLC now owns 289,917 shares of the company's stock worth $2,775,000 after buying an additional 39,400 shares during the last quarter.

About Telix Pharmaceuticals

Telix Pharmaceuticals Limited is a biopharmaceutical company focused on developing and commercializing radiopharmaceuticals and molecularly targeted radiation products. Its programs are designed to support precision medicine by using radioactive compounds to image specific biological targets or deliver radiation directly to diseased tissue.

The company's principal commercial product is Illuccix, a kit used to prepare gallium Ga 68 gozetotide injection for prostate-specific membrane antigen (PSMA) positron emission tomography (PET) imaging.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.