Telix Pharmaceuticals (NASDAQ:TLX) Shares Gap Down Following Analyst Downgrade

Key Points

• Telix Pharmaceuticals shares experienced a significant gap down following a downgrade by HC Wainwright, reducing its price target from $23.00 to $20.00, with the stock opening at $9.19.
• Despite the downgrade, the company maintains a buy rating from HC Wainwright, while other analysts have given it an average rating of "Moderate Buy" and a target price of $21.33.
• Several institutional investors have recently increased their stakes in Telix Pharmaceuticals, indicating continued interest and potential confidence in the company's future performance.

Shares of Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report) gapped down before the market opened on Thursday after HC Wainwright lowered their price target on the stock from $23.00 to $20.00. The stock had previously closed at $9.69, but opened at $9.19. HC Wainwright currently has a buy rating on the stock. Telix Pharmaceuticals shares last traded at $9.33, with a volume of 22,443 shares traded.

A number of other brokerages have also weighed in on TLX. Wedbush restated an "outperform" rating and set a $22.00 price objective on shares of Telix Pharmaceuticals in a research report on Thursday, August 28th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Telix Pharmaceuticals in a report on Thursday, August 28th. Finally, William Blair reiterated an "outperform" rating on shares of Telix Pharmaceuticals in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.33.

Hedge Funds Weigh In On Telix Pharmaceuticals

Several institutional investors have recently bought and sold shares of TLX. IHT Wealth Management LLC bought a new position in shares of Telix Pharmaceuticals during the 2nd quarter worth $213,000. Jane Street Group LLC purchased a new position in Telix Pharmaceuticals during the second quarter worth about $564,000. Russell Investments Group Ltd. purchased a new stake in shares of Telix Pharmaceuticals during the 2nd quarter valued at $975,000. Pier Capital LLC bought a new position in shares of Telix Pharmaceuticals during the 2nd quarter valued at about $3,037,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Telix Pharmaceuticals during the second quarter valued at approximately $297,000.

Telix Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 2.78 and a quick ratio of 2.66. The business's 50-day moving average is $12.42 and its 200 day moving average is $15.33.

Telix Pharmaceuticals Company Profile

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.