Telix Pharmaceuticals (NASDAQ:TLX) Shares Gap Down - Here's Why

Key Points

• Telix Pharmaceuticals' shares gapped down from $10.15 to $9.75 at market open, with the last traded price at $9.70.
• Despite the price drop, analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average price target of $22.33.
• Institutional investors are actively participating in Telix Pharmaceuticals, with several firms purchasing new stakes in the company during the recent quarters.

Telix Pharmaceuticals Limited (NASDAQ:TLX - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $10.15, but opened at $9.75. Telix Pharmaceuticals shares last traded at $9.70, with a volume of 105,494 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TLX. William Blair reaffirmed an "outperform" rating on shares of Telix Pharmaceuticals in a research report on Wednesday, July 9th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Telix Pharmaceuticals in a report on Thursday. HC Wainwright began coverage on shares of Telix Pharmaceuticals in a research report on Thursday, July 3rd. They set a "buy" rating and a $23.00 price objective on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $22.00 target price on shares of Telix Pharmaceuticals in a research report on Thursday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Telix Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $22.33.

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 business has a 50 day simple moving average of $14.07 and a 200-day simple moving average of $16.10.

Hedge Funds Weigh In On Telix Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new position in shares of Telix Pharmaceuticals during the 1st quarter worth $170,000. IHT Wealth Management LLC bought a new position in Telix Pharmaceuticals in the 2nd quarter worth approximately $213,000. Blair William & Co. IL purchased a new position in Telix Pharmaceuticals in the 2nd quarter valued at approximately $217,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Telix Pharmaceuticals during the 2nd quarter valued at $297,000. Finally, ABC Arbitrage SA bought a new stake in shares of Telix Pharmaceuticals during the first quarter valued at about $451,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.