Telix Pharmaceuticals Ltd (ASX: TLX) shares received a nice boost yesterday after the company released Q2 2026 results.
Telix Pharmaceuticals is a pharmaceutical group specialising in the development and commercialisation of radio pharmaceuticals for the imaging and treatment of certain cancers.
Image source: Getty Images
What did the company report yesterday?
As The Motley Fool's Bernd Struben reported, the company announced:
- 21% year-on-year revenue boost to US$247 million (AU$353 million)
- Second-quarter revenue rise of 7% from the prior quarter
- The company's Precision Medicine segment brought in US$202 million of that quarterly revenue, a 30% increase from Q2 2025 and up 9% from last quarter
The company said it expects FY 2026 revenue and other income to be in excess of US$1 billion, with revenue tracking in line with the upper end of FY 2026 guidance of US$950 million to US$970 million.
Speaking on the results, Dr Christian Behrenbruch, Managing Director and Group CEO, said:
We delivered another quarter of growth with U.S. dose volumes increasing 7% during the quarter, driven by growing demand for Gozellix and continued strength across our PSMA7 imaging portfolio. This performance underscores the strength of our differentiated two-product PSMA imaging strategy and reinforces Telix's market leadership, built on clinical differentiation, supply chain resilience and commercial execution.
Following these results, Bell Potter released updated guidance on Telix shares.
Solid growth
Bell Potter's report yesterday shows the broker sees the results largely as positive.
Telix is growing faster than expected and appears to be gaining market share in PSMA imaging; it is confident enough to invest more in research and still expects strong underlying sales even without the one-off Regeneron payment.
Other than the half year result in August, the major upcoming catalyst is the FDA decision on approval of Pixclara for brain cancer imaging, due 11 September 2026.
This pending approval represents a pivotal moment. Approval would likely generate a welcome re-rating. A second Complete Response Letter (CRL), depending on the nature of the contents, could be highly damaging as there are no other near to revenue pipeline products.
In the clinic, we expect the FDA should clear the amended IND for TLX591 in the coming weeks, finally allowing recruitment of the Part 2 of this trial to commence recruitment in the US.
Healthy upside for Telix shares
Based on this guidance, the team at Bell Potter has retained its buy recommendation for Telix shares.
The broker has maintained its 12-month price target of $19.
Based on yesterday's closing price, this indicates upside potential of almost 26%.
