The S&P/ASX 200 Index (ASX: XJO) tumbled 1.4% on Thursday, continuing its recent volatile run.
It has been increasingly difficult to predict the market in 2026, as inflation, geopolitical uncertainty and CPI data have all sent the market moving in different directions recently.
Yesterday, two ASX shares in particularly that suffered heavy losses were:
- Telix Pharmaceuticals Ltd (ASX: TLX) which dropped 4%
- Catalyst Metals Ltd (ASX: CYL) which fell over 7%.
This single day drop sees both stocks now hovering close to 52-week lows.
However expert analysis indicates it could be a buy-low opportunity.
Here's what brokers are predicting.
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Telix still can't shake sector woes
Telix is a commercial-stage biopharmaceutical company focused on the ongoing development of diagnostic and therapeutic ('theranostic') products using targeted radiation.
This process treats cancerous or diseased cells, an alternative approach to many cancer therapies which also attack healthy tissue at the same time.
It has been one of the many ASX healthcare shares that has suffered significantly over the last 12 months.
Its share price is currently down 50% compared to a year ago.
However, brokers have consistently reinforced that its underlying fundamentals warrant a higher share price.
Recently, Bell Potter placed a buy rating and $19 price target on Telix shares.
Meanwhile, Morgans has price target of $24.33 on the healthcare stock.
The broker recently said that industry consolidation may spark additional interest in Telix.
Recent news flow around convertible note refinancing, a solid 1Q26 sales (up 11%) and the Regeneron collaboration shows there is plenty happening inside TLX. TLX points to several milestones expected in 2026 including a FDA clearance for the brain cancer diagnostic and resubmission of the kidney cancer diagnostic. Consensus has a target price of A$24.33 which provides significant upside to the current share price.
From yesterday's closing price of $13.03, these targets indicate an upside potential between 45% and 88%.
Catalyst Metals close to yearly lows
Another buy low candidate is Catalyst Metals.
The company engages in the acquisition, exploration and development of mineral properties. Its portfolio includes Tandarra Gold, Raydarra, Four Eagles, Macorna Bore, Whitelaw Gold Belt and Sebastian projects.
At the time of writing, its share price is down almost 33% year to date.
It now sits close to a 52-year low at $4.96.
However, brokers are anticipating a big turnaround for these ASX shares.
Morgans has a buy rating on this ASX gold mining share with a 12-month target of $15.13.
Brokers have acknowledged short term cost pressures, but Morgans maintains optimism thanks to solid operating cash flow.
CYL continues to strengthen their balance sheet, adding A$39m during the quarter to close with A$277m in cash and bullion while reinvesting heavily across growth and exploration initiatives.
Growth momentum continues across the Plutonic Belt, with multiple new ore sources advancing (Trident, K2, Old Highway) alongside a high-grade discovery at Cinnamon, supports the pathway to c.200kozpa production.
From yesterday's closing price, the price target from Morgans indicates an upside potential of over 200%.
