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Telix Pharmaceuticals Ltd. (AU:TLX)
ASX:TLX

Telix Pharmaceuticals (TLX) AI Stock Analysis

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AU:TLX

Telix Pharmaceuticals

(Sydney:TLX)

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Neutral 65 (OpenAI - 4o)
Rating:65Neutral
Price Target:
AU$15.00
▲(33.45% Upside)
Telix Pharmaceuticals Ltd. demonstrates strong financial performance and positive earnings call highlights, driving the score. However, technical indicators suggest bearish momentum, and the high P/E ratio raises valuation concerns. Cash flow management and external challenges also weigh on the score.
Positive Factors
Revenue Growth
Strong revenue growth indicates robust demand for Telix's products, enhancing its market position and supporting long-term business sustainability.
Product Expansion
Product expansion into new markets strengthens Telix's competitive edge and diversifies revenue streams, contributing to long-term growth.
Cash Position
A strong cash position provides Telix with the financial flexibility to invest in R&D and strategic initiatives, supporting future growth and stability.
Negative Factors
SEC Inquiry
The SEC inquiry could lead to regulatory scrutiny, potentially affecting Telix's reputation and operational focus, impacting long-term business operations.
Gross Margin Pressure
Pressure on gross margins from third-party products may affect profitability, challenging Telix's ability to maintain cost efficiency over time.
Competitive Pricing
Competitive pricing pressures could erode market share and profitability, posing a risk to Telix's long-term revenue growth and market position.

Telix Pharmaceuticals (TLX) vs. iShares MSCI Australia ETF (EWA)

Telix Pharmaceuticals Business Overview & Revenue Model

Company DescriptionTelix Pharmaceuticals Limited, a radiopharmaceutical company, develops molecularly targeted radiation (MTR) products for cancer and rare diseases in Australia, Belgium, Japan, Switzerland, and the United States. The company focuses on developing diagnostic and therapeutic products using MTR. Its lead products include TLX591-CDx for the diagnosis and treatment of metastatic castrate-resistant prostate cancer; TLX66-CDx to treat bone marrow conditioning and rare diseases; TLX250, which is in Phase II clinical trials for the diagnosis and treatment of renal (kidney) cancer; TLX250-CDx that is in Phase III clinical trials for the diagnosis and treatment of renal (kidney) cancer; TLX591, which is in Phase III clinical trials for the diagnosis and treatment of metastatic castrate-resistant prostate cancer; TLX101 that is in Phase I/II clinical trials and TLX101-CDx for the diagnosis and treatment of glioblastoma (brain cancer); and TLX66, which is in Phase I/IIa clinical trials for the treatment of bone marrow conditioning and rare diseases. The company also develops TLX592, a prostate cancer therapy candidate for targeted alpha therapy; TLX591-Sx, a positron emission tomography (PET) tracer that delivers PET and fluorescent (optical) imaging; and TLX599-CDx, an investigational prostate cancer imaging agent that uses single photon emission computed tomography. It has a strategic license and commercial partnership with China Grand Pharmaceutical and Healthcare Holdings Limited for developing a portfolio of MTR products; scientific and clinical research collaboration with Mauna Kea Technologies; and strategic collaboration agreement with Lightpoint Medical, Ltd. The company was founded in 2015 and is headquartered in North Melbourne, Australia.
How the Company Makes MoneyTelix Pharmaceuticals generates revenue primarily through the sale of its radiopharmaceutical products and therapies, which are often sold to hospitals and clinics for cancer treatment. The company also engages in partnerships and collaborations with other pharmaceutical and biotechnology companies to co-develop products, which can provide additional funding and shared resources. Licensing agreements and clinical trial collaborations can contribute to revenue, particularly if Telix's products gain market approval and achieve commercial success. Furthermore, Telix may receive milestone payments associated with the achievement of specific regulatory or commercial objectives within these partnerships, enhancing its overall revenue model.

Telix Pharmaceuticals Earnings Call Summary

Earnings Call Date:Aug 20, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Jan 20, 2026
Earnings Call Sentiment Positive
The earnings call presented a strong performance in terms of revenue growth, product expansion, and strategic acquisitions, highlighting the company's robust cash position and pipeline advancements. However, challenges such as SEC inquiries, gross margin pressure, and competitive pricing pressures were noted.
Q2-2025 Updates
Positive Updates
Record Revenue Growth
Telix reported a 63% year-on-year increase in group revenues for the first half of 2025, with revenues reaching $390 million.
Successful Product Expansion
The company has expanded its product line to include multiple approved products, with a significant rollout of Illuccix across Europe and upcoming launches of Zircaix and Pixclara.
Strong Precision Medicine Performance
Precision medicine revenues increased by 30% year-on-year, with EBITDA improving by 24% and gross margins steady at 64%.
Strategic Acquisitions and Infrastructure Growth
The company's global manufacturing and distribution sites have grown to 38, and its workforce has more than doubled, now exceeding 1,000 employees.
Robust Cash Position
Telix ended the first half of 2025 with $207 million in cash on hand and generated $18 million in operational cash flow.
Pipeline Progress
Significant progress was made in the therapeutics pipeline, including the launch of pivotal trials in prostate cancer and glioblastoma.
Negative Updates
SEC Information Request
Telix received a subpoena from the SEC regarding disclosure activity related to prostate cancer therapeutic candidates, although no allegations or charges have been made.
Gross Margin Pressure from RLS
The group's overall gross margin declined to 53% due to the addition of RLS third-party products and associated costs.
Pricing Challenges
The company faces competitive pricing pressures in the PSMA market, particularly following changes in reimbursement status.
Company Guidance
During the Telix Half Quarter 2025 Results and Investor Webcast, the company provided a detailed financial and operational performance overview for the first half of 2025. Telix reported a strong revenue growth of 63% year-on-year, with group revenues reaching $390 million, primarily driven by Illuccix and new third-party revenues from the RLS acquisition. The Precision Medicine business saw a revenue increase of 30% year-on-year, with EBITDA improving by 24%. Overall gross margin was reported at 53%, reflecting a mix of stable margins from Illuccix and contributions from RLS. The company made significant investments in global manufacturing infrastructure, increasing R&D spending by 47% compared to the previous year. Cash on hand was $207 million at the end of the half-year. Telix reaffirmed its full-year guidance, expecting revenues between $770 million and $800 million and an R&D investment increase of 20% to 25%. The company emphasized its strategic focus on long-term asset value and highlighted its progress in expanding its product offerings, geographic presence, and indications in the Precision Medicine and Therapeutics businesses.

Telix Pharmaceuticals Financial Statement Overview

Summary
Telix Pharmaceuticals Ltd. shows strong revenue and profit growth with improved margins and operational efficiency. The balance sheet is stable, though leverage levels should be monitored. Cash flow management needs improvement to sustain operational cash generation.
Income Statement
Telix Pharmaceuticals Ltd. demonstrated strong revenue growth with a significant increase from $502.5M in 2023 to $783.2M in 2024, marking a 55.8% growth rate. The gross profit margin improved to 65.0%, showcasing efficient cost management. The net profit margin rose to 6.4%, reflecting enhanced profitability compared to previous years. The EBIT and EBITDA margins were healthy at 10.5% and 11.8%, respectively, indicating strong operational performance. Overall, the income statement reflects robust growth and improving profitability.
Balance Sheet
The company's financial position is solid with a debt-to-equity ratio of 1.02, suggesting a balanced approach to financing. The return on equity (ROE) improved to 8.8%, indicating better utilization of equity to generate profit. An equity ratio of 37.5% shows moderate reliance on equity financing. The balance sheet reflects a stable financial structure with steady equity growth, but there remains a slightly high leverage that could pose risks in volatile market conditions.
Cash Flow
Despite a lack of operating cash flow in the latest year, Telix Pharmaceuticals achieved a positive free cash flow of $9M, a decline from $13.1M in the previous year, indicating a need for better cash flow management. The absence of operating cash flow raises concerns regarding the sustainability of cash generation through operations. The free cash flow to net income ratio suggests limited conversion of profit into cash. Overall, cash flow management needs improvement to ensure long-term liquidity.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.19B783.21M502.55M160.10M7.60M5.21M
Gross Profit674.14M509.68M314.39M29.34M-29.77M-16.88M
EBITDA85.71M92.55M22.97M-92.84M-70.07M-54.20M
Net Income34.76M49.92M5.21M-104.08M-80.51M-44.89M
Balance Sheet
Total Assets1.19B1.52B398.30M255.35M109.81M157.82M
Cash, Cash Equivalents and Short-Term Investments207.16M710.35M123.24M116.33M22.04M77.94M
Total Debt418.25M581.45M17.45M10.45M2.54M2.21M
Total Liabilities768.01M948.22M249.39M178.44M106.17M78.81M
Stockholders Equity421.94M568.21M148.91M80.01M2.16M79.02M
Cash Flow
Free Cash Flow5.92M9.00M13.09M-77.83M-60.67M1.64M
Operating Cash Flow36.39M43.03M23.88M-63.97M-59.33M1.96M
Investing Cash Flow-497.38M-135.17M-25.49M-17.00M-2.73M-1.09M
Financing Cash Flow630.70M638.92M10.19M174.96M2.85M34.12M

Telix Pharmaceuticals Technical Analysis

Technical Analysis Sentiment
Negative
Last Price11.24
Price Trends
50DMA
13.84
Negative
100DMA
14.68
Negative
200DMA
19.56
Negative
Market Momentum
MACD
-0.83
Positive
RSI
27.70
Positive
STOCH
25.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:TLX, the sentiment is Negative. The current price of 11.24 is below the 20-day moving average (MA) of 12.16, below the 50-day MA of 13.84, and below the 200-day MA of 19.56, indicating a bearish trend. The MACD of -0.83 indicates Positive momentum. The RSI at 27.70 is Positive, neither overbought nor oversold. The STOCH value of 25.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:TLX.

Telix Pharmaceuticals Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
AU$634.54M17.5015.90%0.38%7.76%1.55%
71
Outperform
AU$2.43B16.5554.79%12.35%26.73%
65
Neutral
AU$3.81B224.903.21%60.23%-66.98%
55
Neutral
$3.94B-21.82-18.95%198.58%3.97%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
50
Neutral
AU$91.48M-9.23-49.72%10.78%
49
Neutral
AU$641.07M-10.31-35.86%-19.21%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:TLX
Telix Pharmaceuticals
11.20
-12.82
-53.37%
AU:CUV
Clinuvel Pharmaceuticals
12.82
1.70
15.33%
AU:MSB
Mesoblast Limited
2.85
0.04
1.42%
AU:NEU
Neuren Pharmaceuticals Limited
19.32
7.47
63.04%
AU:IMM
Immutep Ltd
0.44
0.11
33.85%
AU:PTX
Prescient Therapeutics Limited
0.08
0.04
86.67%

Telix Pharmaceuticals Corporate Events

Telix Pharmaceuticals Reports Lapse of Unvested Share Rights and Appreciation Rights
Jan 12, 2026

Telix Pharmaceuticals has announced the lapse of several classes of conditional securities, including 45,000 share rights (TLXAP), 326,334 share appreciation rights (TLXAO), and 84,896 US performance share appreciation rights (TLXAW), all of which ceased on 30 October 2025 after their vesting conditions were not met or became incapable of being satisfied. The cessation of these rights reduces potential future equity dilution and indicates that certain performance or service conditions tied to these incentives were not achieved, marginally simplifying the company’s capital structure and refining the alignment between management incentives and shareholder outcomes.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$25.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Publishes J.P. Morgan Conference Deck and Sets Date for Q4 2025 Results
Jan 12, 2026

Telix Pharmaceuticals has released the investor presentation that Managing Director and Group CEO Dr. Christian Behrenbruch will deliver at the 44th Annual J.P. Morgan Healthcare Conference in San Francisco, with the session to be webcast live and available on demand via the company’s investor relations site. Alongside the conference materials, Telix has also published a comprehensive overview of its therapeutic pipeline assets and confirmed it will report fourth-quarter 2025 financial results on 20 January 2026, signalling an active period of investor engagement and increased transparency around its development programs and financial performance.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$25.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Issues Over 2.5 Million Unquoted Share Appreciation Rights Under Incentive Plan
Dec 23, 2025

Telix Pharmaceuticals has notified the market of the issuance of 2,501,179 unquoted share appreciation rights under its employee incentive schemes, comprising 742,992 Telix share appreciation rights and 1,758,187 US performance share appreciation rights, both dated 24 October 2025. The move underscores the company’s continued use of equity-based compensation to align staff incentives with shareholder interests, potentially strengthening talent retention and management focus on long-term value creation without immediate dilution to quoted share capital.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$28.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Seeks ASX Quotation for Additional Ordinary Shares After Option Conversions
Dec 23, 2025

Telix Pharmaceuticals has applied to the ASX for quotation of a small number of additional ordinary fully paid shares, totaling 41,161 securities, issued on various dates in November and December 2025 following the exercise of options or conversion of other securities. The incremental listing reflects routine capital management activity and a modest expansion of the company’s quoted share base, with limited immediate impact on overall capital structure but signalling ongoing execution of equity-linked incentives or financing arrangements.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$28.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Advances Precision Imaging Portfolio With Strong China Trial Data and FDA Progress
Dec 21, 2025

Telix Pharmaceuticals reported strong top-line Phase 3 data from its Illuccix (TLX591-CDx) prostate cancer imaging trial in Chinese patients, with a patient-level positive predictive value of 94.8% and treatment plans altered in more than two-thirds of participants, paving the way for a near-term New Drug Application in China’s rapidly expanding prostate cancer and nuclear medicine market in partnership with Grand Pharma. The company also outlined progress on U.S. regulatory pathways for its other imaging agents, with an NDA resubmission for glioma PET tracer TLX101-CDx being finalised following constructive FDA feedback, and alignment reached with the FDA on addressing chemistry, manufacturing and controls issues for TLX250-CDx, including an additional meeting in January to confirm data requirements for commercial-scale manufacturing comparability, underscoring Telix’s efforts to stabilise and expand its precision medicine portfolio while maintaining expanded access programs for patients.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Advances ProstACT Global Phase 3 Prostate Cancer Study
Dec 17, 2025

Telix Pharmaceuticals has provided an update on its ProstACT Global Phase 3 study involving TLX591, a prostate cancer therapy candidate targeting metastatic castration-resistant prostate cancer (mCRPC). The company has successfully completed Part 1 of the study and has now initiated Part 2 across several countries, following positive safety and clinical results. This study marks a significant milestone in the development of TLX591, as it combines a PSMA-targeted radio antibody-drug conjugate with existing Standard of Care treatments, promising a unique therapeutic alternative with fewer adverse effects. Expansion into additional global jurisdictions, including Europe, is underway, enhancing Telix’s industry positioning and reinforcing its commitment to advancing innovative oncology solutions.

The most recent analyst rating on (AU:TLX) stock is a Hold with a A$17.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Pharmaceuticals Updates Securities Dealing Policy
Dec 14, 2025

Telix Pharmaceuticals Limited has updated its Securities Dealing Policy effective from December 11, 2025, in compliance with ASX Listing Rule 12.10. This update reflects the company’s ongoing commitment to regulatory compliance and may impact its operations by ensuring transparency and integrity in securities dealings, potentially affecting investor confidence and stakeholder engagement.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$28.50 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Pharmaceuticals Advances Prostate Cancer Therapy with Phase 3 Trial Expansion
Dec 7, 2025

Telix Pharmaceuticals has announced the dosing of the first patient in Part 2 of its ProstACT Global Phase 3 study, which evaluates the prostate cancer therapy candidate TLX591 in patients with metastatic castration-resistant prostate cancer. This trial is notable for combining a PSMA-targeted radio antibody drug conjugate therapy with standard care treatments. The study is expanding globally, with recruitment ongoing in several countries, and plans to submit data to the FDA to further expand the trial in the U.S. This milestone is significant for Telix’s prostate cancer therapeutics pipeline and may enhance its industry positioning by potentially offering a new treatment option with fewer adverse effects compared to existing therapies.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Pharmaceuticals to Release Shares from Voluntary Escrow
Oct 28, 2025

Telix Pharmaceuticals announced the release of 45,584 ordinary shares from voluntary escrow, which were initially issued as part of the acquisition of Lightpoint Medical and its SENSEI® radio-guided surgery business. This release of shares is a strategic move following the acquisition, potentially impacting Telix’s market positioning by enhancing its operational capabilities in the radio-guided surgery sector.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$34.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Pharmaceuticals to Release Shares from Voluntary Escrow
Oct 23, 2025

Telix Pharmaceuticals announced the release of 1,649,037 ordinary shares from voluntary escrow, which were initially issued as part of the acquisition of Lightpoint Medical’s SENSEI® radio-guided surgery business. This release, scheduled for November 3, 2025, marks a significant step in the integration of Lightpoint Medical’s technologies, potentially enhancing Telix’s market position in the field of minimally invasive and robotic-assisted surgery.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$23.00 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Telix Pharmaceuticals Boosts Revenue Forecast Amid Strategic Expansions
Oct 14, 2025

Telix Pharmaceuticals reported a significant revenue increase of 53% year-over-year for Q3 2025, reaching $206 million, and upgraded its FY 2025 revenue guidance to $800-820 million. The company achieved full reimbursement for Gozellix in the U.S. and expanded its Illuccix product approval to 19 European markets. These developments, along with ongoing clinical trials and strategic market launches, position Telix strongly in the precision medicine sector, enhancing its competitive edge and operational capabilities.

The most recent analyst rating on (AU:TLX) stock is a Buy with a A$24.25 price target. To see the full list of analyst forecasts on Telix Pharmaceuticals stock, see the AU:TLX Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 15, 2025