Telix Pharmaceuticals Ltd (ASX: TLX) shares have jumped 5.3% higher today to $13.64 a piece. The increase comes off the back of the biopharmaceutical's announcement today confirming revenue growth for the first quarter of FY26.
The company reported that its unaudited group revenue has climbed 11% from the previous quarter, and Precision Medicine revenue has climbed 16%.
Telix also reaffirmed its FY26 revenue guidance of US$950 million to US$970 million. It added that it expects further revenue growth driven by global uptake of its products and a full-year contribution from RLS Radiopharmacies.
Today's hike means the shares have now recovered 58% since hitting a mutli-year low of $8.63 in mid-February. The share price is now up 20% for the year-to-date. A lot of the share price recovery was made through March alone, where Telix's value climbed 40%.
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What drove Telix shares higher in March?
After bottoming out in mid-February, Telix shares rebounded after the company announced that it had filed a key regulatory approval in Europe.
The good news has continued through March when the company posted several announcements about its 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 in early-March. 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.
The following week, Telix announced it had 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.
Telix is widely considered oversold and undervalued and investors have finally caught on. The flurry of good news has caused a positive swing of sentiment and it looks like many are now buying back into the biopharmaceutical's shares while they are trading for cheap.
Are the shares still a buy, or have we hit the peak?
It looks like the Telix share price peak is a very long way off yet. Analysts are very bullish about the company and expect a significant upside out of the stock over the next 12 months.
TradingView data shows a consensus buy rating across 16 analysts, with a maximum target price of 32.25. That implies a potential 136% upside at the time of writing. Even the minimum $17.38 target price implies the shares could jump 27% higher.
