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

Key Points

• Telix Pharmaceuticals (NASDAQ:TLX) shares gapped down after UBS Group lowered their price target from $23.00 to $20.00, opening at $10.40 compared to the previous close of $10.93.
• Despite the downgrade, four analysts have rated the stock as a Buy and the average price target remains at $21.00, indicating bullish sentiment among analysts.
• Recent hedge fund activity showed significant investments, with Pier Capital LLC purchasing a new stake valued at approximately $3,037,000 in Telix Pharmaceuticals during the second quarter.

Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report) gapped down before the market opened on Wednesday after UBS Group lowered their price target on the stock from $23.00 to $20.00. The stock had previously closed at $10.93, but opened at $10.40. UBS Group currently has a buy rating on the stock. Telix Pharmaceuticals shares last traded at $10.29, with a volume of 30,023 shares traded.

TLX has been the subject of several other research reports. Wedbush reaffirmed an "outperform" rating and set a $22.00 price target on shares of Telix Pharmaceuticals in a research note on Thursday, August 28th. Citigroup began coverage on shares of Telix Pharmaceuticals in a research note on Thursday, September 18th. They set a "buy" rating and a $22.00 price target for the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Telix Pharmaceuticals in a research note on Thursday, August 28th. HC Wainwright dropped their price target on shares of Telix Pharmaceuticals from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Finally, William Blair reaffirmed an "outperform" rating on shares of Telix Pharmaceuticals in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TLX. IHT Wealth Management LLC purchased a new position in Telix Pharmaceuticals during the second quarter worth about $213,000. Jane Street Group LLC bought a new stake in Telix Pharmaceuticals in the second quarter worth about $564,000. Russell Investments Group Ltd. bought a new stake in shares of Telix Pharmaceuticals in the second quarter valued at approximately $975,000. Pier Capital LLC bought a new stake in shares of Telix Pharmaceuticals in the second quarter valued at approximately $3,037,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Telix Pharmaceuticals in the second quarter valued at approximately $297,000.

Telix Pharmaceuticals Stock Performance

The firm's 50-day moving average price is $11.68 and its 200-day moving average price is $15.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.78 and a quick ratio of 2.66.

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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