The market is placing 'zero value' on this ASX 200 stock's booming pipeline

Up 78% in a year, these experts reckon there's more outperformance to come from this top ASX 200 stock.

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When you're running your slide rule over S&P/ASX 200 Index (ASX: XJO) stocks to add to your portfolio, one metric to watch closely is the works it has in its pipeline.

A strong pool of promising projects or products on the horizon should deliver ongoing revenue growth. And hopefully boost profits and the company's share price as well.

With that said we turn to ASX 200 healthcare share Telix Pharmaceuticals Ltd (ASX: TLX).

According to the analysts at Monash Investors Small Companies Fund, "Telix continues to its seemingly inexorable progress and share price rerating. Telix is strongly growing its radiopharmaceutical sales and has a pipeline of new drugs to come."

Shot of a scientist using a computer while conducting research in a laboratory.

Image source: Getty Images

What's been happening with the ASX 200 healthcare stock recently?

Management at Telix certainly hasn't been resting on their laurels.

On 5 January the ASX 200 company reported that it's mulling over an initial public offering (IPO) in the United States. Telix is looking at listing on the tech-heavy Nasdaq Composite Index (INDEXNASDAQ: .IXIC).

No final decision on the dual listing has been made, with a number of regulatory and other customary corporate approvals pending.

A month later, on 8 February, Telix announced it had inked an agreement to acquire QSAM Biosciences and its bone cancer targeting platform.

The ASX 200 stock agreed to acquire the United States-based therapeutic radiopharmaceuticals company for US$33 million upfront via Telix share issues. The agreement also stipulates contingent payments of up to US$90 million (payable in cash or shares) on achievement of certain clinical and commercial milestones.

Commenting on the acquisition, Telix CEO Christian Behrenbruch said, "The acquisition of QSAM provides Telix with an additional near-term therapeutic pipeline asset."

Behrenbruch added the acquisition will further differentiate the company's "innovation position in radiopharmaceuticals and building depth in Telix's key disease focus areas of urological and musculoskeletal oncology".

Speaking of building Telix's near-term therapeutic pipeline, here's what the analysts at Monash Investors said about this ASX 200 stock:

We can easily justify the current pricing of Telix based on its two existing commercial products (the kidney imaging product will commercialise this calendar year). Therefore, the market is placing zero value on its highly prospective pipeline.

Telix share price snapshot

The Telix share price has been on a tear over the past 12 months, up 79%.

Investors who bought the ASX 200 stock five years ago will be sitting on eye-watering gains of 1,397%.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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