Telix Pharmaceuticals (NASDAQ:TLX) Stock Price Down 4.5% - Time to Sell?

Key Points

• Telix Pharmaceuticals shares fell 4.5% to approximately $11.17, with trading volume down 92% from the average session. The stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $20.40. However, RBC downgraded the stock to “sector perform,” while other firms maintained Buy or Outperform ratings.
• Several institutional investors increased or initiated positions in Telix, including Private Advisor Group, Bank of America, Lazard Asset Management and Hennion & Walsh. The company develops targeted radiopharmaceuticals for cancer diagnosis and treatment.

Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report) dropped 4.5% on Wednesday . The company traded as low as $11.15 and last traded at $11.1650. 16,654 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 196,120 shares. The stock had previously closed at $11.69.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TLX. Royal Bank Of Canada downgraded Telix Pharmaceuticals from an "outperform" rating to a "sector perform" rating in a research report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Telix Pharmaceuticals in a research note on Tuesday, July 7th. Citigroup reissued a "buy" rating on shares of Telix Pharmaceuticals in a report on Thursday, August 20th. Wedbush restated an "outperform" rating and set a $22.00 price objective on shares of Telix Pharmaceuticals in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Telix Pharmaceuticals from a "sell (d)" rating to a "hold (c-)" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.40.

Telix Pharmaceuticals Stock Down 5.1%

The firm has a 50 day moving average price of $11.05 and a two-hundred day moving average price of $9.73. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.85 and a current ratio of 2.01.

Hedge Funds Weigh In On Telix Pharmaceuticals

Several large investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. purchased a new position in Telix Pharmaceuticals in the 2nd quarter valued at approximately $1,731,000. Private Advisor Group LLC lifted its position in shares of Telix Pharmaceuticals by 276.3% during the first quarter. Private Advisor Group LLC now owns 174,415 shares of the company's stock worth $1,669,000 after acquiring an additional 128,070 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Telix Pharmaceuticals by 523.8% during the first quarter. Bank of America Corp DE now owns 10,031 shares of the company's stock worth $96,000 after acquiring an additional 8,423 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Telix Pharmaceuticals by 15.7% in the first quarter. Lazard Asset Management LLC now owns 289,917 shares of the company's stock worth $2,775,000 after acquiring an additional 39,400 shares during the period. Finally, XY Capital Ltd bought a new position in shares of Telix Pharmaceuticals in the first quarter worth $120,000.

About Telix Pharmaceuticals

Telix Pharmaceuticals NASDAQ: TLX is a clinical-stage biopharmaceutical company focused on the development and commercialization of molecularly targeted radiopharmaceuticals for the diagnosis and treatment of cancer. Leveraging expertise in radiochemistry, nuclear medicine and oncology, Telix aims to address unmet clinical needs across a range of tumor types by pairing diagnostic imaging agents with therapeutic radionuclides.

The company’s pipeline spans both imaging and therapeutic candidates.

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