Telix Pharmaceuticals Ltd (ASX: TLX) shares have crashed over 21% since the start of 2026 after the company's latest Q4 FY25 results disappointed investors.
The company reported in late January that it had achieved the lower end of its guidance, but investors weren't pleased, and the share sell-off accelerated.
It's just one of several significant headwinds that the company has faced over the past six months, including slow or delayed regulatory approvals for some of its key radiopharmaceutical products.
At the time of writing on Thursday morning, the shares are 0.9% higher at $8.96 a piece. The uptick means the shares are now 66.63% below where they were trading this time last year.
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What's ahead for Telix this year?
While earlier concerns that the shares could drop below $10 did unfortunately eventuate, it looks like there is good news ahead for the biotech company this year. After several months of sustained share price declines and slumping investor sentiment, it looks likely that Telix shares are at or close to the bottom.
If Telix receives clearances or expanded approvals for its radiopharmaceutical products in major markets, such as the US or Europe, resolving regulatory setbacks, and investor sentiment improves, it could drive the share price back upwards.
Just yesterday, the company announced it has submitted a European marketing authorisation application for TLX101-Px, its brain cancer imaging agent.
Telix has been preparing regulatory submissions for both Europe and the US simultaneously. The company intends to make its TLX101-Px product commercially available across key European markets.
TLX101-Px diagnostic is expected to help select and track patients in Telix's ongoing glioblastoma therapy trials, including phase 3 studies in Europe. And the good news is that there aren't any commercial alternatives widely available, so Telix's product could address an urgent clinical need without competition.
Telix still has exceptional growth potential in a rapidly expanding market, and at its current share price, the ASX stock is highly attractive.
How high can Telix shares go?
Analysts are incredibly bullish on Telix shares for 2026. TradingView data shows that all 16 analysts have a buy or strong buy rating on the stock. And the expectation is that the share price will soar over the next 12 months.
Some expect the shares to climb 174.55% to $24.65, but others are even more optimistic and expect the share price to rocket to $32.15 a piece. That implies an enormous 258.82% upside at the time of writing and over triple the current value!
