Wedbush has reiterated its Outperform rating and $22 price target for Telix Pharmaceuticals following the company’s Capital Markets Day. The event covered Telix’s commercial and financial outlook, upcoming pipeline milestones and the strategic and financial rationale for its proposed merger with ITM.
Telix maintained its fiscal 2026 revenue guidance of $950 million to $970 million and said it was tracking toward the upper end of the range. The company expects its Precision Medicine business to grow by more than 25% year over year. It also outlined a potential route to about $1.5 billion in revenue in 2027, including approximately $300 million from ITM. Formal guidance for fiscal 2027 is expected early next year.
Telix currently has three FDA-approved imaging products and expects that number could reach six by this time next year, subject to potential additions including Zircaix, the BiPASS label and ITM-11. Its therapeutic pipeline is advancing across prostate, renal and brain cancers.
The company expects BiPASS data in late first-quarter 2027, OPTIMAL-PSMA results in early 2027, and a futility analysis from the ProstACT Global TLX591 study in the first half of 2027. Data from TLX090 Part A is also expected during the year. Management described 2026 and 2027 as investment years, with a transition toward earnings growth expected in 2028.
In separate recent results, Telix reported first-half 2026 revenue of AUD 477 million, up 22% year over year, and net profit after tax of AUD 38 million. EBITDA increased 146% to AUD 52 million. The company also completed enrollment of 350 patients in its Phase 3 BiPASS trial and said the FDA had approved Pixclara for PET imaging of gliomas. H.C. Wainwright separately maintained a Buy rating and $20 price target.
Sources: Investing.com News.