It's been a wild ride for this erratic ASX healthcare stock.
Telix Pharmaceuticals Ltd (ASX: TLX) surged to $29.72 nearly a year ago, only to crash around 72% to $8.26 in February. In the past month the ASX healthcare stock has clawed its way back jumping 34% higher to $13.66 at the time of writing.
That kind of volatility can shake out even seasoned investors. But here's the twist: brokers are still firmly in the bullish camp and they see serious upside ahead.
So, given that the biotech stock is still 50% down over 12 months, could this sell-off be a golden opportunity? Here's three reasons why Telix shares might be worth a closer look.
Image source: Getty Images
Not your typical biotech story
First, this is a very different kind of biotech story. Telix isn't a speculative, pre-revenue company hoping for its first breakthrough. It develops radiopharmaceuticals used in cancer diagnosis and treatment — a niche that combines precision medicine with complex manufacturing and global distribution.
More importantly, it's already commercial.
That's a big deal. While many biotech peers are still waiting on approvals, this ASX healthcare stock is generating real revenue and scaling globally. As more of its products gain regulatory clearance and adoption grows, revenue has the potential to ramp up quickly.
This means its growth is driven less by macro conditions — and more by clinical uptake. That can create volatility, but also powerful upside.
Doubling down on growth
Second, the revenue growth is hard to ignore.
Telix recently reported full-year revenue of US$803 million, up a massive 56% year-on-year. And it's not slowing down.
Management expects revenue to hit between US$950 million and US$970 million this year — pushing it comfortably toward the US$1 billion mark.
At the same time, the company is doubling down on future growth, with research and development spending forecast between US$200 million and US$240 million.
That's exactly what long-term investors want to see: strong top-line growth backed by continued innovation.
Major opportunity, limited competition
Third, there's a major opportunity emerging with limited competition.
Telix is making big strides in brain cancer, one of the toughest areas in oncology. It has submitted a European marketing application and resubmitted to the U.S. FDA for its TLX101-Px imaging agent targeting glioblastoma.
Here's what makes this exciting: there are currently no widely available commercial alternatives. That gives the $4.4 billion ASX healthcare stock a rare chance to enter an underserved market with high demand and limited direct competition.
If approved, this could unlock a powerful new growth engine.
What next for the ASX healthcare stock?
According to TradingView data, all 16 analysts covering Telix rate it as a buy or strong buy. The average 12-month price target sits around $23.97, implying roughly 75% upside from current levels.
Some forecasts are even more aggressive, pointing to $31.59 — a potential gain of more than 130%. Meanwhile, Bell Potter has a buy rating and a $19.00 price target on the ASX healthcare stock, suggesting around 40% upside.
For investors willing to ride the volatility, this explosive ASX healthcare stock could be gearing up for its next big move.
