Telix Pharmaceuticals Ltd (ASX: TLX) shares are racing higher in Wednesday morning trade. At the time of writing the biopharmaceutical company's shares are up 8% to $12.58 a piece.
The uptick now means the shares are 11% higher for the year-to-date and have recovered some losses seen during the sharp selloff throughout 2025.
Telix shares are now 54% lower than this time last year.
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What happened to Telix shares?
Telix shares crashed in early 2026 after the company's Q4 FY25 results disappointed investors. In late January, Telix reported that it had achieved the lower end of its guidance, but investors weren't pleased, and the 2025 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.
In mid-February, Telix shares finally reached the bottom and started rebounding. The uptick started when the company announced that it had filed a key regulatory approval in Europe.
Investors were pleased with the announcement and it looks like sentiment has finally started rebounding.
The good news has continued through March with several announcements about the company's growth and development plans.
The company released its Part 1 results from its global Phase 3 ProstACT study of TLX591-Tx, its novel prostate cancer therapy last week. The results were encouraging, and showed that the therapy demonstrates an acceptable and manageable safety profile, with no new safety signals and sustained tumour uptake across patients.
This week, Telix announced it has resubmitted its New Drug Application (NDA) to the U.S. FDA for TLX101-Px (Pixclara®), a brain cancer imaging candidate. Telix's resubmission includes new data addressing the FDA's previous requests. The new submission is expected to be enough to gain US Food and Drug Administration (FDA) approval.
And why are Telix shares storming higher today?
There hasn't been any new price-sensitive information out of Telix today to explain the current share price hike. But it's likely that a positive sentiment swing is now flowing through to investors, causing an increase in buying activity.
Has the tide finally turned for Telix?
Telix shares are now widely considered oversold and undervalued.
Analysts are very bullish on where the share price can go from here. TradingView data shows that all 16 analysts have a buy or strong buy rating on the stock. And the expectation among all of them is that the share price will fly higher over the next 12 months.
Some expect the shares to climb 92% to $23.97, but others are even more optimistic and expect the share price to rocket to $31.59 a piece over the next 12 months. That implies an enormous 154% upside, at the time of writing.
