Telix Pharmaceuticals (NASDAQ:TLX) Hits New 52-Week Low - What's Next?

Key Points

• Telix Pharmaceuticals stock reached a new 52-week low of $11.12, indicating a significant decline from its previous close of $11.34.
• Several brokerages have issued positive ratings for TLX, with HC Wainwright setting a price target of $23.00 and Wedbush recommending a target price of $22.00.
• Institutional investors are increasingly acquiring shares in Telix Pharmaceuticals, with multiple firms, including Pier Capital LLC and ABC Arbitrage SA, making new investments this year.

Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.12 and last traded at $11.20, with a volume of 2252 shares trading hands. The stock had previously closed at $11.34.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wedbush restated an "outperform" rating and issued a $22.00 price objective on shares of Telix Pharmaceuticals in a research note on Thursday, June 12th. HC Wainwright initiated coverage on shares of Telix Pharmaceuticals in a research report on Thursday, July 3rd. They issued a "buy" rating and a $23.00 price objective for the company. Finally, William Blair reiterated an "outperform" rating on shares of Telix Pharmaceuticals in a research report on Wednesday, July 9th.

Telix Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.66 and a current ratio of 2.78. The stock's 50 day moving average price is $14.99 and its two-hundred day moving average price is $16.52.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Pier Capital LLC purchased a new position in shares of Telix Pharmaceuticals during the 2nd quarter worth approximately $3,037,000. Russell Investments Group Ltd. purchased a new stake in Telix Pharmaceuticals in the 2nd quarter worth approximately $975,000. Jane Street Group LLC purchased a new stake in Telix Pharmaceuticals in the 2nd quarter worth approximately $564,000. ABC Arbitrage SA purchased a new stake in Telix Pharmaceuticals in the 1st quarter worth approximately $451,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Telix Pharmaceuticals in the 2nd quarter worth approximately $297,000.

About Telix Pharmaceuticals

Telix Pharmaceuticals Limited. engages in the development and commercialization of several clinical-stage oncology assets. It operates through the following segments: Commercial, Product Development, and Group and Unallocated. The Commercial segment includes sales of Illuccix and other products subsequent to obtaining regulatory approvals.