UBS Group Issues Pessimistic Forecast for Telix Pharmaceuticals (NASDAQ:TLX) Stock Price

Key Points

• UBS Group has reduced its target price for Telix Pharmaceuticals (NASDAQ: TLX) from $23.00 to $20.00, indicating a potential upside of 82.23% based on the stock's previous close, while maintaining a "buy" rating.
• Other brokerages have also issued similar price cuts, with HC Wainwright setting the price objective at $20.00 and Citigroup initiating coverage with a price target of $22.00.
• Despite the rating downgrades, Telix Pharmaceuticals' stock experienced a 9.2% increase during midday trading, reaching $10.98.

Telix Pharmaceuticals (NASDAQ:TLX - Get Free Report) had its target price cut by analysts at UBS Group from $23.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. UBS Group's price target indicates a potential upside of 82.23% from the stock's previous close.

Several other brokerages also recently issued reports on TLX. HC Wainwright cut their price objective on Telix Pharmaceuticals from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. Citigroup started coverage on Telix Pharmaceuticals in a research report on Thursday, September 18th. They set a "buy" rating and a $22.00 price objective for the company. William Blair restated 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 research report on Thursday, August 28th. Finally, 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. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Telix Pharmaceuticals Trading Up 9.2%

Shares of TLX stock traded up $0.93 during midday trading on Tuesday, reaching $10.98. 141,538 shares of the company traded hands, compared to its average volume of 69,696. The firm's 50 day simple moving average is $11.77 and its two-hundred day simple moving average is $15.04. Telix Pharmaceuticals has a 1-year low of $8.93 and a 1-year high of $30.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.78 and a quick ratio of 2.66.

Institutional Trading of Telix Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Pier Capital LLC purchased a new stake in Telix Pharmaceuticals during the 2nd quarter worth $3,037,000. Russell Investments Group Ltd. purchased a new stake in Telix Pharmaceuticals during the 2nd quarter worth $975,000. Jane Street Group LLC purchased a new stake in Telix Pharmaceuticals during the 2nd quarter worth $564,000. ABC Arbitrage SA purchased a new stake in Telix Pharmaceuticals during the 1st quarter worth $451,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Telix Pharmaceuticals during the 2nd quarter worth $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.

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