Telix Pharmaceuticals (NASDAQ:TLX) Shares Gap Down After 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.

Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report) gapped down prior to trading 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 research analysts have also commented on the company. Wedbush reissued an "outperform" rating and set a $22.00 price target on shares of Telix Pharmaceuticals in a report on Thursday, August 28th. William Blair reaffirmed an "outperform" rating on shares of Telix Pharmaceuticals in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Telix Pharmaceuticals in a report on Thursday, August 28th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $21.33.

Institutional Investors Weigh In On Telix Pharmaceuticals

Several institutional investors have recently made changes to their positions in TLX. Private Advisor Group LLC acquired a new stake in shares of Telix Pharmaceuticals during the 1st quarter valued at about $170,000. ABC Arbitrage SA acquired a new stake in shares of Telix Pharmaceuticals during the 1st quarter valued at about $451,000. Blair William & Co. IL acquired a new stake in shares of Telix Pharmaceuticals during the 2nd quarter valued at about $217,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Telix Pharmaceuticals during the 2nd quarter valued at about $297,000. Finally, Pier Capital LLC acquired a new stake in shares of Telix Pharmaceuticals during the 2nd quarter valued at about $3,037,000.

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 company has a fifty day moving average price of $12.81 and a 200-day moving average price of $15.59.

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.

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