After hitting a three-year low in mid-February, the ASX healthcare shares rebounded strongly and surged 83% within two months.

Since then, they've been pretty steady, between $12.20 and $17.85, before crashing around 19% last month.

Last month's crash followed the company's third-quarter financial performance report for FY26, which it posted to the ASX on the 21st of October.

Clearly, the announcement spooked investors, with many rushing for the exits and sending the share price tumbling.

Now the question is, will Telix Pharmaceuticals shares keep falling? Or is there potential for a rebound so strong that they could double in value back within the next 12 months? 

What put Telix Pharmaceuticals shares under pressure last month?

For the three-month period ending 30th of September, Telix announced a 19% year-on-year increase in revenue. This was around 1% lower from the second quarter of FY26, but still broadly in line with expectations.

Revenue in the company's Precision Medicine business jumped 30% versus the same period in FY25, but was flat compared to the second quarter of FY26. 

The company narrowed its FY26 research and development expenditure guidance range to US$240 million to US$260 million, down from US$230 million to US$270 million previously. Telix Pharmaceuticals confirmed that its pipeline is expanding, with trial results and regulatory results in progress.

The company also reaffirmed its FY26 revenue and said it is tracking in line with the upper end of its US$950 to US$970 million guidance. 

The quarterly update was positive overall, but it looks like it was a miss versus investor expectations and previous momentum.

Could Telix Pharmaceuticals shares double in value over the next 12 months?

According to the experts, there is a very real chance.

TradingView data shows the majority of analysts (14 out of 15) have a buy/strong buy rating on the shares. The average $25.98 implies a potential 94% upside ahead, at the time of writing. 

But some analysts think Telix Pharmaceuticals shares could climb even higher. The maximum target price of $31.56 implies an upside of around 136% over the next 12 months. 

That's far higher than double the current share price, and also higher than an all-time high of $30.12 recorded in early 2025.

Could the shares keep falling?

The shares were building momentum earlier this year, and I think the latest sell-off is mostly sentiment-driven rather than any long-term consideration of how the company can progress.

And I think that once disappointment fades, and investors consider the company's long-term growth prospects, we could see a share price rally over the coming months.

What could support a 100% share price gain?

Telix expects its FY 2026 revenue and other income to exceed US$1 billion, and it has already said it is tracking towards the upper end of US$950 million to US$970 million of revenue guidance. 

Another share price rally would hinge on whether the company's full-year results announcement meets or exceeds guidance and investor expectations.

Any further US FDA approvals will also help Telix transition from a single product into a multi-product global platform.

The Australian biotech company has stepped out into the spotlight this year after achieving several milestones, including major regulatory and commercial wins.

In late September, the company announced that the US FDA has granted Fast Track designation for its BiPASS program, which targets earlier, less invasive prostate cancer diagnosis.

Earlier the same month, Telix Pharmaceuticals announced that its brain cancer imaging drug, Pixclara, has received approval from the US FDA. This makes it the first FET-PET imaging drug cleared for use in glioma and expands Telix's precision medicine portfolio.

The update came off the back of several other good-news announcements out of Telix so far this year, including a new merger with ITM Isotope Technologies Munich, an application for key regulatory approval in Europe, several announcements about its growth and development plans, news that the FDA had accepted its NDA for TLX101-Px (Pixclara®), and the announcement of a major collaboration with US-based biotech company Regeneron Pharmaceuticals. 

The company is also planning to target market leadership in both imaging and treatment for several high-need cancers. Its broader pipeline includes late-stage assets in prostate, kidney, and glioblastoma cancers, with a focus on bringing further precision medicine products to both existing and new markets worldwide.

I think these developments show that the company is in the midst of strong growth with enormous potential for scale.

The post Could Telix Pharmaceuticals shares double in value over the next 12 months? appeared first on The Motley Fool Australia.

But I believe some ASX shares have what it takes to keep growing and rewarding investors over that period.

With that in mind, I've picked out five shares that I would be happy to buy today and hold until 2046.

Most are businesses I have plenty of confidence in, but my final pick might come as a surprise.

Its shares have struggled this year, but I think it could prove to be a rewarding long-term investment.

Here's what's on my list and why.

Macquarie Group Ltd (ASX: MQG)

My first choice is Macquarie Group, which I think is one of the best financial services businesses on the ASX.

What I like about Macquarie is how it has developed multiple revenue streams across banking, asset management, commodities, and investment banking.

This gives the group exposure to different markets and opportunities around the world.

Its banking operations have continued to grow, while its global asset management business provides exposure to areas such as infrastructure, renewable energy, real estate, and private credit.

Macquarie also has considerable experience operating through difficult economic conditions.

Over a 20-year period, I would expect several recessions, market downturns, and periods of uncertainty. Having a business with a long history of managing risks and allocating capital carefully is something I value.

Of course, Macquarie's earnings can fluctuate significantly depending on market conditions and investment activity.

However, I believe its global reach, financial strength, and ability to keep developing its businesses give it an excellent chance of being considerably larger in 2046.

For these reasons, Macquarie would be an easy inclusion in my long-term portfolio.

What about the other four?

While Macquarie is a relatively straightforward choice, the remaining four offer exposure to some of the biggest growth opportunities I see over the coming decades.

They include businesses positioned to benefit from healthcare demand, Australia's growing wealth, and medical innovation.

But my final selection is perhaps the most interesting of the five. It operates in an industry where fortunes can change quickly, and its shares have fallen approximately 35% this year.

Despite that, I believe its competitive position could make it a rewarding investment for patient shareholders.

Here's why these four ASX shares would make my list along with Macquarie.

Sigma Healthcare Ltd (ASX: SIG)

Another business I would be comfortable holding for 20 years is Sigma Healthcare.

Following its merger with Chemist Warehouse, Sigma has become a major force in the Australian pharmacy industry, with a growing international presence.

I like the long-term outlook for this business because demand for medicines, healthcare products, and pharmacy services should continue to grow as populations age.

Chemist Warehouse also has a well-established brand and a retail model that has proven successful in Australia.

I think the opportunity to expand that model internationally could become an increasingly important source of growth. And we are already seeing encouraging progress, with the company's international operations growing strongly and its store network expanding.

There should also be benefits as Sigma continues integrating the two businesses, improving efficiency and expanding its range of owned and exclusive-label products.

The shares currently command a premium valuation at 36 times FY27 earnings according to CommSec, which is something investors need to consider. Nevertheless, I believe its defensive earnings, strong long-term growth potential, and market leadership justify this premium.

HUB24 Ltd (ASX: HUB)

HUB24 is another ASX share that I think could deliver excellent returns for long-term investors.

The company operates a leading investment and superannuation platform used by financial advisers to manage their clients' wealth.

Its growth opportunity is supported by Australia's expanding superannuation system and the increasing complexity of retirement planning.

As more Australians accumulate wealth and seek financial advice, I expect demand for sophisticated investment platforms to remain strong.

HUB24 has been taking advantage of this opportunity by winning business from competitors and attracting substantial inflows onto its platform.

For example, its first-quarter update for FY27 showed funds under administration had reached $168.6 billion, up 15% on the prior corresponding period.

As those assets increase, so does the revenue HUB24 can generate from administering them.

According to CommSec, HUB24 shares are trading on a PE ratio of 34 times FY28 earnings. That certainly is a premium valuation, but given its decades-long growth runway, it is a price I would be willing to pay.

Telix Pharmaceuticals Ltd (ASX: TLX)

The next ASX share I would happily hold until 2046 is Telix Pharmaceuticals.

I believe Telix has one of the most exciting long-term growth opportunities in the Australian healthcare sector.

The company specialises in radiopharmaceuticals, developing products that use radioactive substances to help diagnose and potentially treat serious diseases, including cancer.

Its commercial success with prostate cancer imaging products Illuccix and Gozellix has already demonstrated the demand for its technology.

And the opportunity extends well beyond these existing products. Telix is developing additional diagnostic products and cancer treatments, giving it several potential avenues for growth over the coming years.

The ASX announcement of the US approval of its brain cancer imaging product Pixclara in September is another encouraging development.

Looking ahead, I expect advances in medical technology and growing demand for more precise cancer diagnosis and treatment to create substantial opportunities for companies operating in this field.

There are risks to consider, particularly around clinical trials, regulatory approvals, competition, and the costs of developing new products. But with an established commercial business and an expanding pipeline, I believe Telix has the potential to become a much larger global healthcare company over the next two decades.

PLS Group Ltd (ASX: PLS)

My final ASX share is probably the one that will raise the most eyebrows.

I would be prepared to buy PLS shares today and hold them for the next 20 years.

That might sound surprising given the company's exposure to the notoriously volatile lithium market. And with its shares down approximately 35% year-to-date, investors have already had a reminder of how quickly sentiment can change.

However, I believe PLS has some important advantages that could help it prosper over the long term.

The first is its position as one of the world's leading lithium producers. Its flagship Pilgangoora operation in Western Australia is a large-scale, relatively low-cost asset with substantial resources.

In fact, the company recently increased its Pilgangoora ore reserve, which now supports more than 25 years of potential production. This gives PLS a strong starting point for a 20-year investment.

The company is also investing $1.9 billion in the P2000 project, which is expected to increase annual production capacity to approximately 2 million tonnes.

For context, this week PLS announced to the ASX record spodumene concentrate production of 267,600 tonnes in the September quarter, equivalent to just over 1 million tonnes annualised.

Beyond Australia, its acquisition of Latin Resources has given it ownership of the Colina lithium project in Brazil, creating another potential source of future production.

Of course, I would expect plenty of ups and downs over 20 years. Lithium prices will fluctuate, new supply will enter the market, and demand from electric vehicles and energy storage systems may develop unevenly.

Its expansion plans also require substantial investment, which increases the importance of careful financial management.

But I believe low operating costs, an enormous resource base, opportunities for further acquisitions, and strong cash-generating potential put PLS in a good position to navigate those challenges.

Foolish takeaway

Choosing ASX shares to hold for 20 years requires plenty of patience and a willingness to accept uncertainty.

Even outstanding businesses will encounter challenges over that period, and I would continue reviewing their progress to make sure the original investment case remains intact.

For me, these five companies offer a compelling combination of established market positions and opportunities to grow.

And while PLS might require the strongest stomach of the group, I think its long-term potential deserves serious consideration.

The post The 5 ASX shares I'd hold for the next 20 years, including one left-field pick appeared first on The Motley Fool Australia.

The ASX 200 Health Care Index (ASX: XHJ) dipped to an annual low in early-June but has made an incredible recovery over the past four months and is now up around 2% for the year to date.

The latest rally is great news for investors, but some ASX healthcare shares have now climbed into danger territory and are considered to be trading above fair value.

But not all of them have reached their peak just yet.

Here are three ASX 200 healthcare shares which could still have more room to run higher. And brokers forecast upsides ahead between 35% and 103% over the next 12 months.

Telix Pharmaceuticals Ltd (ASX: TLX)

Telix shares closed around 0.5% lower on Tuesday afternoon, at $12.79 each. The shares have now tumbled around 19% since Tuesday last week, when the company posted its third-quarter earnings for FY26.

For the three-month period ending 30th of September, Telix posted a 19% increase in its revenue year on year. This was around 1% lower from the second quarter of FY26, but still broadly in line with expectations.

The company has reaffirmed its FY26 revenue and said it is tracking in line with the upper end of guidance. 

The result was positive on paper, but it looks like it was a miss versus investor expectations. It seems that profit-taking investors have been selling up their stake in the company in anticipation of more share price declines ahead.

But the experts have a different view. TradingView data shows all brokers have a strong buy rating on the ASX healthcare shares. The $25.98 average target price implies an upside of 103% over the next 12 months, at the time of writing.

4DMedical Ltd (ASX: 4DX)

4DMedical shares also closed in the red on Tuesday afternoon, down around 2% to $3.61. The medical technology company's shares flew higher in early 2026, reaching an all-time high of $6.79 in mid-April. But they've since fallen and have been steadily trading somewhere between the low-$3 to high-$4 since May. 

For the year to date, the shares are down around 20%, but they're still a huge 89% higher than 12 months ago.

It's worth noting that the business is still very much in its growth phase. 4DMedical is working hard to expand its commercial footprint. It has secured approvals in Canada and New Zealand and is actively progressing commercialisation plans in Europe and Australia.

But it looks like investors want to see evidence that its growth can translate into sustainable earnings growth before jumping back on board.

The company's FY26 results in late-August were viewed positively. Highlights included a 21% lift in revenue to $7.1 million, and a 7% improvement in adjusted net loss to $32.9 million.

Management also said it plans to continue scaling its commercial partnerships and integrating new technologies, while building a competitive medical imaging and AI platform.

It looks like investors were pleased with the results, but it hasn't done much to build share price momentum back to previous highs.

But the experts are more bullish about the outlook for the ASX 200 healthcare shares. TradingView data shows two experts are split between a strong buy and a hold rating. But they both agree an upside is ahead. The $5.13 average target price implies a potential 42% upside, at the time of writing. 

Ebos Group Ltd (ASX: EBO)

Ebos shares closed around 3% lower on Tuesday afternoon, at $16.54 a piece. The shares have suffered a steep, and mostly sustained, share price decline so far in 2026 and the shares are now around 33% lower than 12 months ago.

The pharmaceutical wholesaler and distributor has multiple headwinds this year, including higher fuel price, which has affected its logistics and distribution business, leadership changes, and a contract wind down.

Investors have also been spooked by a wave of executive departures from Ebos over the past month. The Australian has reported that four senior staff members have resigned or been put on leave over the past month. The departures add to ongoing redundancies within the business amid an ongoing restructure.

Meanwhile, at its AGM last week, the company confirmed that while it still holds a wholesale contract with Chemist Warehouse New Zealand, which has been extended by agreement, it will now ramp down progressively through to the end of FY28 to give the company time to adjust its cost base.

Some investors are still coming to terms with the company's Chemist Warehouse Australian contract in 2024.

But the experts are confident that the business can emerge stronger following its current transition period. TradingView data shows the majority of analysts have a strong buy rating on the ASX healthcare shares. The $22.34 average target price implies a 35% potential upside, at the time of writing. 

The post 3 ASX 200 healthcare shares to buy with 35% to 103% upside ahead appeared first on The Motley Fool Australia.

Here's what James Bills from Shaw and Partners thinks of these 3 ASX 200 shares (courtesy The Bull).

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is $12.81, down 2.9% today and down 23% over 12 months. 

Bills has a buy rating on this ASX 200 healthcare share.

He said: 

Telix continues to benefit from strong demand for its radiopharmaceutical products, particularly in prostate cancer imaging.

The company has demonstrated impressive revenue growth and is advancing a promising pipeline across diagnostics and therapeutics.

Recent updates highlight expanding commercialisation opportunities in key global markets, providing multiple avenues for future earnings growth.

While the stock can be volatile, its strong industry position and exposure to a rapidly growing health care segment support a positive long term outlook.

BHP Group Ltd (ASX: BHP)

The BHP share price is $55.90, up 1.5% today and up 28% over 12 months. 

Bills applies a hold rating to this ASX 200 mining share.  

He explained: 

BHP remains a high quality diversified mining company with exposure to copper, iron ore and other commodities.

The company's strong balance sheet, scale and operational efficiency underpin its ability to generate robust cash flows through commodity cycles.

Demand for copper linked to electrification and global infrastructure investment provides long term support.

However, near term commodity price volatility, mixed economic growth prospects and already inflated share prices warrant a hold position rather than a more aggressive stance.

BHP released its 1Q FY27 report last week.

The miner reported record first-quarter iron ore production, but also reported a 19% decline in copper production.

The lower copper production was due to scheduled maintenance, bad weather, and disrupted operations.

BHP maintained its full-year copper production guidance.

This is important, given that copper now accounts for more than half of the miner's annual earnings.

Commonwealth Bank of Australia (ASX: CBA)

CBA shares are $161.94, down 1.3% today and down 6% over 12 months. 

Bills recommends that investors sell the market's largest ASX 200 bank share. 

He said: 

Commonwealth Bank continues to deliver a strong operational performance and remains Australia's highest quality banking franchise.

However, the share price is trading at a significant premium to domestic and global banking peers.

Earnings growth is expected to remain relatively modest, while competition and regulatory pressures persist across the banking sector.

Given the elevated valuation and limited upside relative to risk, it may be prudent to realise gains and redeploy capital into investments with stronger growth prospects.

The post Buy, hold, sell: Telix Pharmaceuticals, BHP, CBA shares appeared first on The Motley Fool Australia.

Here's what they are bullish on:

Northern Star Resources Ltd (ASX: NST)

The team at Shaw and Partners thinks Northern Star could be an ASX 200 share to buy.

The broker highlights the quality of the gold miner's portfolio and proven track record as reasons to buy. It said:

Northern Star remains one of Australia's leading gold producers, offering investors exposure to a supportive gold price environment. The company operates a portfolio of high quality assets with a proven track record of operational delivery and disciplined capital management. 

Recent production results have been solid, and ongoing investment in key projects should support future output growth. With global economic uncertainty continuing to support demand for gold, Northern Star is well positioned to generate attractive shareholder returns.

Telix Pharmaceuticals Ltd (ASX: TLX)

Another ASX 200 share that Shaw and Partners is positive on is radiopharmaceutical company Telix.

It likes the company due to its promising pipeline and expanding commercialisation opportunities in key global markets. The broker explains:

Telix continues to benefit from strong demand for its radiopharmaceutical products, particularly in prostate cancer imaging. The company has demonstrated impressive revenue growth and is advancing a promising pipeline across diagnostics and therapeutics. 

Recent updates highlight expanding commercialisation opportunities in key global markets, providing multiple avenues for future earnings growth. While the stock can be volatile, its strong industry position and exposure to a rapidly growing health care segment support a positive long term outlook.

Treasury Wine Estates Ltd (ASX: TWE)

Over at MPC Markets, its analysts are bullish on wine giant Treasury Wine and have named it as an ASX 200 share to buy this week.

After a difficult period, MPC Markets appears to believe a change could be coming. It said:

This global wine company reported a statutory net loss after tax of $1.1 billion in full year 2026, driven by a non-cash impairment of US assets. However, the company is transforming how it operates and is forecasting a brighter outlook. Leverage was reduced in the first quarter of 2027, driven by stronger operating cash flow. 

In China, the Penfolds brand grew depletions marginally ahead of plan, which was partially driven by increasing consumer demand. The company announced it was on track to realise $100 million a year in cost reductions by fiscal year 2029. The turnaround isn't a done deal, but we like the mix of disciplined asset sales, cost cutting and firming luxury demand. The shares have been enjoying favourable momentum since March.

The post Experts name 3 ASX 200 shares to buy appeared first on The Motley Fool Australia.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set for a poor start to the week following a disappointing session on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 43 points or 0.5% lower. In the United States, the Dow Jones was down 1.2%, the S&P 500 fell 0.5%, and the Nasdaq edged 0.2% lower.

Oil prices jump

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a strong start to the week after oil prices jumped on Friday night. According to Bloomberg, the WTI crude oil price was up 3.8% to US$103.27 a barrel and the Brent crude oil price was up 3.15% to US$116.72 a barrel. Oil prices hit a six-month high in response to escalating tensions in the Middle East.

Buy Telix shares

Telix Pharmaceuticals Ltd (ASX: TLX) shares could be in the buy zone according to analysts at Shaw and Partners. Courtesy of The Bull, the broker said: "Telix continues to benefit from strong demand for its radiopharmaceutical products, particularly in prostate cancer imaging. The company has demonstrated impressive revenue growth and is advancing a promising pipeline across diagnostics and therapeutics. Recent updates highlight expanding commercialisation opportunities in key global markets, providing multiple avenues for future earnings growth. While the stock can be volatile, its strong industry position and exposure to a rapidly growing health care segment support a positive long term outlook."

Gold price falls

It could be a poor start to the week for ASX 200 gold shares Capricorn Metals Ltd (ASX: CMM) and Northern Star Resources Ltd (ASX: NST) after the gold price fell on Friday night. According to CNBC, the gold futures price was down 1.3% to US$4,007.9 an ounce. Rising oil prices have boosted US Federal Reserve interest rate hike bets.

AGMs

A number of ASX shares are holding annual general meetings on Monday and could provide trading updates at their events. Among the companies holding meetings today are hearing solutions company Cochlear Ltd (ASX: COH) and furniture retailer Nick Scali Limited (ASX: NCK).

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

The biotechnology giant has experienced a difficult few years, with disappointing earnings growth and a share price that has struggled to regain its former highs.

But when you look at its performance over several decades, the story is extraordinary.

When CSL listed on the ASX in 1994, its shares were issued at $2.30. By the time it celebrated 25 years on the market in 2019, the company reported that its share price had grown at an average compound rate of 25.2% annually, accounting for its share split.

Imagine being among those early investors and holding on as the company grew into an international healthcare powerhouse.

Finding the next big winner

What makes CSL's success so impressive is how much the business has grown since listing on the ASX.

It expanded internationally, acquired other businesses, invested heavily in research, and developed medicines that became important treatments for patients worldwide.

And investors who bought shares before much of that growth took place have been rewarded handsomely.

That's what makes looking for the next great Australian healthcare company so interesting to me.

If you can identify a business with a promising treatment, a large potential market, and the ability to expand internationally, there could be considerable rewards as it grows.

Of course, finding those opportunities is far from easy. Many biotechnology companies spend years developing treatments that ultimately fail clinical trials or never receive regulatory approval. And even an approved treatment doesn't guarantee commercial success.

That's why I'd be looking for companies that have already demonstrated meaningful progress and have a realistic opportunity to build much larger businesses.

I certainly don't expect another company to replicate CSL's extraordinary performance.

But there are three ASX healthcare shares that I think have the potential to achieve substantial growth over the coming years.

Each has already reached an important commercial milestone, and each has opportunities that could transform its future.

Here's why I think they deserve a closer look.

Telix Pharmaceuticals Ltd (ASX: TLX)

Of the three companies, Telix is arguably the closest to becoming an established international healthcare powerhouse.

It specialises in radiopharmaceuticals, which use radioactive materials to help diagnose and treat diseases such as cancer.

Its existing products, Illuccix and Gozellix, help doctors identify prostate cancer using specialised medical imaging.

And the business is already generating substantial revenue. In its latest quarterly update, Telix reported US$245 million in revenue, up 19% compared with the previous corresponding period.

Because of this strong performance, management expects revenue and other income to exceed US$1 billion in 2026.

I think that's an impressive position for a company with so much still ahead of it.

What excites me most is the potential for Telix to expand beyond cancer diagnosis into cancer treatment.

The company is developing therapies designed to deliver targeted radiation to cancer cells, potentially opening up substantial new commercial opportunities.

Its recent merger agreement with German radioisotope specialist ITM could also strengthen its manufacturing capabilities and expand its development pipeline, assuming the transaction completes.

There are plenty of challenges, including regulatory hurdles, expensive clinical trials, and the costs of commercial expansion.

But I think Telix has something particularly valuable. It has an established commercial business that could help support its ambitions to become a much larger pharmaceutical company.

Mesoblast Ltd (ASX: MSB)

Mesoblast has taken a different path. The company has spent years developing cell-based treatments for serious medical conditions, enduring considerable setbacks along the way.

Its technology uses specialised cells obtained from adult donors, which can be manufactured into treatments designed to regulate damaging inflammation.

The big breakthrough came in December 2024. After years of development and regulatory difficulties, Mesoblast finally received US approval for Ryoncil.

This treatment is used in children suffering from a serious complication of bone marrow transplantation, where donated immune cells attack the patient's body and conventional steroid treatments have failed.

I think securing that approval was an enormous achievement. And importantly, Mesoblast is now demonstrating that there is commercial demand for its technology.

In the September 2026 quarter, Ryoncil generated US$28 million in net revenue, representing growth of 44% year on year. The company also reported a substantial improvement in its operating cash spending.

For me, the big question is what happens next. Mesoblast is working to expand its treatments into additional conditions, including adult patients with graft-versus-host disease. It also has development programmes targeting heart failure and chronic lower back pain.

Success in these areas could significantly expand its addressable market.

Of course, there are no guarantees that further approvals will follow, and Mesoblast still has considerable work ahead before achieving sustainable profitability.

But after such a difficult journey, I think its transition into a commercial healthcare business could be the beginning of a much bigger story.

Neuren Pharmaceuticals Ltd (ASX: NEU)

My final pick is Neuren, which has already demonstrated that a small biotechnology company can create a valuable international pharmaceutical business.

What catches my eye with Neuren is how it generates income.

Rather than manufacturing and selling its treatments directly, Neuren has partnered with Acadia Pharmaceuticals to commercialise Daybue.

This medicine treats Rett syndrome, a rare neurological condition that can severely affect communication, movement, and development.

Acadia handles commercialisation, while Neuren receives royalties from sales. I like that arrangement because it allows Neuren to benefit from growing demand without carrying the full costs of a global sales operation.

And the numbers are encouraging. Daybue generated US$125 million in sales for Acadia during the June 2026 quarter, earning Neuren US$12.9 million in royalties.

Neuren has also reached the point of paying dividends, an impressive milestone for a biotechnology business.

But I think the real opportunity lies in what could come next. Neuren is developing another treatment, NNZ-2591, for several serious neurodevelopmental disorders.

A Phase 3 trial is underway in Phelan-McDermid syndrome, with additional development opportunities in other rare conditions. If these programmes succeed, Neuren could eventually have multiple commercial products generating income.

Clinical outcomes remain uncertain, and the company depends heavily on the continuing success of Daybue. However, I think its existing royalty business provides a strong foundation for pursuing further breakthroughs.

Foolish takeaway

Finding Australia's next CSL is an ambitious goal, and I certainly wouldn't expect any of these companies to deliver the same extraordinary returns.

But I think all three have opportunities that could transform their businesses.

What I like is that they have already moved beyond simply promising investors that their technology could work.

Each has achieved commercial success, and each has further opportunities that could substantially increase its earnings.

For investors comfortable with the risks of biotechnology, I think these are three ASX healthcare shares worth watching closely.

The post The hunt for Australia's next CSL: 3 ASX healthcare shares with enormous potential appeared first on The Motley Fool Australia.

When it comes to ASX healthcare shares with serious growth potential, Pro Medicus Limited and Telix Pharmaceuticals Limited stand out for very different reasons. Both are innovative Australian healthcare companies making waves overseas, but their business models, growth profiles, and investor appeal couldn't be more different. If you're weighing up Pro Medicus vs Telix Pharmaceuticals shares and hoping to double your money in two years, there's plenty to unpack — from profitability profiles and valuation right through to recent share price action.

The case for Pro Medicus

Pro Medicus is a global provider of medical imaging software and services. Its flagship products help hospitals and radiology clinics manage, interpret, and store medical images, with a large presence in the US. As per its most recent profile, Pro Medicus offers advanced visualisation and workflow tools and also supports clinical reporting and medical accounting for healthcare providers.

A few key fundamentals jump out:

• Market cap of $18.80 billion – towering over most peers on the ASX healthcare scene.
• Profitability: Strong positive earnings per share (EPS) of 2.536 and a substantial 100% franked dividend stream, albeit with a modest 0.39% yield.
• P/E ratio of 70.05 — indicating investors are paying a hefty multiple for Pro Medicus' established profits and perceived quality.

Dividends have grown robustly over time, with the latest final dividend of $0.37 per share (fully franked). Pro Medicus' products are mission-critical for its blue-chip customer base, especially in US hospitals, which underpins its reputation for dependable earnings and steady, if not spectacular, yield.

The case for Telix Pharmaceuticals

Telix Pharmaceuticals, on the other hand, is a high-flying biopharma outfit at the commercialisation stage, focused on radiopharmaceuticals for diagnosing and treating cancer. Its lead product, Illuccix, is already approved in key markets, and it has a pipeline spanning a range of cancers and rare diseases, with over 20 clinical trials up and running globally. According to its profile, Telix is pushing into the US, Europe, and Asia-Pacific with momentum, supported by fresh approvals and international expansion.

What stands out in the numbers?

• Market cap of $5.36 billion — punching above its weight for a recent commercial-stage biopharma business.
• EPS is positive (0.099), but much slimmer than Pro Medicus', which isn't surprising given Telix's reinvestment in R&D and early-stage earnings profile.
• P/E ratio sits at 108.52 — very elevated, but typical for an ASX healthcare disruptor with new commercial products and a hefty growth lens.

Telix doesn't pay a dividend. Instead, its investment appeal is all about growth: revenue from new products, pipeline breakthroughs, and the hope of outsized capital gains as it moves from lab bench to commercial success.

Valuation comparison

Here's how Pro Medicus and Telix Pharmaceuticals stack up on key valuation metrics:

It's clear both companies are priced for future growth rather than value. Pro Medicus looks pricy with a P/E of 70, but with high, sticky margins and evident profitability. Telix, with a triple-digit P/E, reflects not just commercial promise, but also high expectations for future profit ramps. Note: Telix's slim positive EPS and ultra-high P/E may both be affected by the particular earnings measure used.

If income is your goal, Pro Medicus offers some return (and full franking), while Telix hasn't reached the dividend-paying stage yet.

Recent share price momentum

Comparing recent share price performance up to 20 October 2026:

• Pro Medicus closed at $179.93, but is down 19.3% year to date. Recent weeks show big swings, including a notable 7% leap on 16 October after a generally bumpy September and October.
• Telix Pharmaceuticals closed at $15.76 on the same date and has surged 37.5% year to date, showing strong investor appetite. Price action has been lively, with sharp gains and corrections over October.

Telix has captured market excitement; Pro Medicus has seen recent volatility after surging for years.

Which is the better buy?

If I'm hunting for an ASX healthcare stock with genuine shot at doubling my money in two years, I'd lean toward Telix Pharmaceuticals. The company is coming off a year of big operational milestones and a sizzling 37.5% YTD share price gain, which the market often rewards in the biotech phase. Despite its nosebleed P/E and lack of dividend, I think Telix offers more blue-sky potential as approvals and commercial rollouts gather pace. It's risky and volatile, but that comes with the territory for biopharma.

Pro Medicus is, frankly, outstanding — profitable, high-quality, owner-managed, and a leader in its space. However, with an $18.8 billion market cap and a still-hefty 70x P/E despite a near-20% pullback this year, it's hard to see it doubling again from here without exceptional earnings surprises. Investors wanting dependable dividends and steady compounding might lean Pro Medicus, but for pure double-your-money potential, my pick would be Telix.

The post Pro Medicus vs Telix Pharmaceuticals: Which is more likely to double your money in 2 years? appeared first on The Motley Fool Australia.

And I think one of the best ways to benefit from this is to identify growing businesses before they become some of the share market's largest companies.

After all, a business worth $2 billion or $3 billion today could potentially become worth $10 billion over the coming decade if it can consistently grow its earnings and successfully expand its operations.

For investors who identify these opportunities early and remain patient, the rewards could be significant.

With that in mind, I decided to look for ASX shares that I believe have a reasonable chance of reaching a $10 billion market capitalisation in the future.

Here are five that caught my attention.

HUB24 Ltd (ASX: HUB)

The first ASX share on my shortlist is HUB24. I think this investment platform provider has an excellent opportunity to become one of Australia's largest financial services technology businesses.

Its platform allows financial advisers to manage their clients' investments and superannuation, providing access to a wide range of investment products and portfolio management tools.

And as more financial advisers move away from traditional platforms towards modern technology, HUB24 has been winning an increasing share of the market.

For example, at the end of September, HUB24 had $168.6 billion in funds under administration, representing an increase of 15% over the previous year. It also attracted $4 billion in net platform inflows during the quarter.

What I like is how additional funds flowing onto its platform can translate into higher recurring revenue without requiring a proportionate increase in operating costs. This creates opportunities for profit margins to improve as the business grows.

And HUB24 isn't standing still. It continues to invest in technology, introduce new services, and expand its relationships with financial advisers. With a current market capitalisation of approximately $5.4 billion, HUB24 would need to become almost twice as valuable to reach $10 billion.

I believe that is achievable over the next decade, especially if it continues increasing its market share and growing earnings at an attractive rate.

But HUB24 isn't the only company I found with a compelling growth opportunity.

Among the remaining four are a business already reaching more than 100 million people worldwide and another that has recently secured almost $1 billion in new contracts.

Both are still valued well below $10 billion, and I believe they represent compelling opportunities for long-term investors.

So, which other ASX shares made my shortlist, and what could take them to that milestone?

Life360 Inc (ASX: 360)

Another ASX share that caught my attention is Life360.

Its family safety platform has become an increasingly important part of everyday life for millions of people, helping them stay connected with family members and keep track of their safety.

But what stands out with Life360 is how much of its potential audience remains untapped financially. At the end of June, the company had approximately 102.4 million monthly active users globally. However, only around 3.2 million family groups were paying for its subscription services.

That provides substantial scope to increase revenue by encouraging more users to subscribe, while also expanding its advertising business. The latter is already growing rapidly, with advertising revenue increasing more than fourfold to US$22 million during the second quarter.

With its market capitalisation sitting at approximately $5 billion, I believe Life360 has a credible opportunity to reach $10 billion if it can keep expanding its user base and improving monetisation.

The challenge will be maintaining user engagement and turning audience growth into sustainable profits, particularly as it increases spending on advertising and international expansion.

Megaport Ltd (ASX: MP1)

Megaport is another ASX share that I believe could become substantially more valuable.

Previously best known for providing on-demand network connections between data centres and cloud platforms, Megaport has expanded into supplying computing infrastructure for artificial intelligence (AI).

Its acquisition of Latitude.sh has opened up opportunities to provide the processing power businesses need to run increasingly sophisticated AI applications.

In September, Megaport announced three additional AI infrastructure contracts worth approximately $979 million. These contracts are expected to generate around $232 million in annual recurring revenue once fully deployed.

Including its earlier agreements, Megaport has announced approximately $2.3 billion in strategic AI infrastructure contracts since April.

That is impressive progress for a company with a current market capitalisation of approximately $3.8 billion.

Management is forecasting FY 2027 revenue of $720 million to $810 million, with substantial growth expected as its new contracts come online. However, delivering these projects requires investment, with planned FY 2027 capital expenditure approaching $1.9 billion.

If it can successfully deliver on its contracts and build a profitable AI infrastructure business alongside its established network operations, I believe Megaport could eventually be worth $10 billion.

Netwealth Group Ltd (ASX: NWL)

Another business that I think has the potential to join the $10 billion club is Netwealth.

Like HUB24, Netwealth operates an investment and superannuation platform used by financial advisers and their clients.

And while the two companies compete for similar customers, I believe the size of Australia's wealth management industry leaves considerable room for both to grow.

Netwealth's latest quarterly update revealed that funds under administration had reached a record $139.2 billion at the end of September. This was an increase of 15.2% over the previous year, demonstrating that the business continues to expand despite some challenging market conditions.

Another encouraging development was its managed accounts business, which attracted record quarterly net inflows of $2.2 billion. Managed accounts allow advisers to manage client portfolios more efficiently and provide Netwealth with an opportunity to generate additional revenue from the funds on its platform.

With a market capitalisation of approximately $4.2 billion, Netwealth would need to more than double in value to reach $10 billion.

I think that is achievable over the longer term if it can maintain strong inflows, expand its services, and translate its growing funds under administration into higher earnings.

Telix Pharmaceuticals Ltd (ASX: TLX)

A final ASX share that I believe deserves a place on this list is Telix Pharmaceuticals.

The biotechnology company has already established a successful commercial business supplying radioactive imaging products that help doctors diagnose cancer.

And I think its potential extends even further. Telix is developing treatments that use targeted radiation to attack cancer cells, potentially allowing it to participate in a much larger market.

The company is also expanding its existing diagnostic portfolio, which continues to deliver strong revenue growth.

In the September quarter, Telix generated US$245 million in revenue, up 19% year on year. Management expects revenue and other income to exceed US$1 billion in FY 2026.

Telix is also pursuing a merger with German radioisotope specialist ITM, which could strengthen its manufacturing capabilities and expand its cancer treatment pipeline.

With the company currently valued at approximately $4.9 billion, reaching $10 billion would require substantial further growth.

But I believe its commercial operations provide an encouraging foundation, while successful clinical trials and regulatory approvals could unlock significant additional value.

It is important to remember that drug development carries considerable risks, and the proposed ITM transaction would also involve issuing substantial new equity. However, if Telix can successfully expand beyond cancer diagnostics into commercial treatments, I believe it has the potential to become one of Australia's leading healthcare companies.

The post I searched for the next $10 billion ASX company. These 5 caught my attention appeared first on The Motley Fool Australia.

After hitting a three-year low in mid-February, the ASX healthcare shares rebounded strongly and surged 83% within two months.

Since then, they've been pretty volatile, swinging between $12.20 and $17.85 in mid-September.

But even after the latest decline, the shares are up around 27% year to date, although they're 14% lower than 2 months ago.

Today's crash follows the company's third-quarter earnings for FY26, which it posted to the ASX ahead of the market open this morning.

Clearly, the announcement has spooked investors, with many rushing for the exits today.

What did Telix report?

The company posted its third-quarter FY26 results this morning for the period ending 30th of September.

Telix posted a 19% increase in its revenue versus the same period in 2025, but it was down 1% from the previous quarter, broadly in line with expectations.

Revenue in the company's Precision Medicine business jumped 30% versus the same period in FY25, but was flat on the second quarter of FY26. 

The company said it will continue to expand its product pipeline, advancing multiple late-stage trials in prostate, brain, and kidney cancer. 

Telix reaffirmed that its FY26 revenue and other income are expected to be in excess of US$1 billion, with revenue tracking in line with the upper end of guidance, driven by growth in its Precision Medicine business and improved commercial momentum for new products.

The company also revised its FY26 research and development expenditure guidance range to US$240 million to US$260 million, down from US$230 million to US$270 million previously. It also confirmed that its pipeline is expanding, with trial results and regulatory results in progress.

So, why are the shares falling?

Telix's latest update is positive, so today's decline mostly looks like the result of profit-taking investors taking their gains off the table after the shares spiked to an annual high last month.

It also looked like much of the good news out of the announcement was already priced into the latest share price.

Telix's narrowed research and development expenditure also suggests that costs could be running a bit higher than it previously expected.

What does the outlook look like for Telix shares?

The experts are even more bullish on Telix shares over the next 12 months. TradingView data shows the majority (14 out of 15) have a buy/strong buy rating on the ASX healthcare stock. One more rates the shares as a hold.

And they all agree there is significant upside ahead after today's crash. 

The $26.44 average target price implies an upside of around 80% at the time of writing. 

Meanwhile, the maximum target price of $32.07 now implies a 119% upside over the next 12 months, at the time of writing.

The post Telix shares crashing 8% today: What happened? appeared first on The Motley Fool Australia.

What did Telix Pharmaceuticals report?

• Group revenue rose 19% versus Q3 2025 to US$245 million.
• Precision Medicine revenue increased 30% to US$201 million, driven by Illuccix and Gozellix.
• FDA approved Pixclara for glioma imaging; first U.S. commercial doses administered in September 2026.
• BiPASS Phase 3 prostate cancer study completed enrolment; FDA granted Fast Track Designation.
• Merger with Isotope Technologies Munich SE (ITM) announced, boosting therapeutics pipeline and isotope supply.
• FY 2026 revenue and other income expected to exceed US$1 billion.

What else do investors need to know?

Telix continues to expand its product pipeline, advancing multiple late-stage trials in prostate, brain, and kidney cancer. The company said U.S. dose volumes for its key commercial products rose slightly despite seasonal impacts, with September sales underpinning confidence in further annual growth.

Telix has also strengthened its manufacturing and supply capabilities. Through its Telix Manufacturing Solutions unit, the company expanded its U.S. micro-pharmacy network and secured more contracts for its isotope production technology. Its collaboration with Ekalia is expected to secure priority isotope access for new alpha therapy products.

On the corporate front, shareholders will vote in December on the ITM merger, a US$1.65 billion deal designed to create a vertically integrated leader in radiopharmaceuticals. The board welcomed David Gill as Chair and Marcin Firek as Company Secretary, further bolstering the company's governance and leadership credentials.

What did Telix Pharmaceuticals management say?

Dr. Christian Behrenbruch, Managing Director and Group CEO, commented:

Demand for both Gozellix and Illuccix remained strong during the quarter, with U.S. dose volumes increasing 1% quarter-over-quarter, in line with our expectations and reflecting expected summer seasonality. We are pleased by the strong September exit run rate, supporting our confidence in delivering over 25% Precision Medicine revenue growth in 2026. We achieved an important milestone with the FDA approval of Pixclara, expanding our commercial portfolio, establishing a presence in neuro-oncology and further diversifying our revenue base. During the quarter, we announced a transformative merger with ITM, creating a leading vertically integrated radiopharmaceutical company with one of the industry's broadest therapeutic pipelines and expanded isotope production and global manufacturing capabilities. This is aligned with our long-term growth strategy reinforcing our ability to reliably serve patients at scale.

What's next for Telix Pharmaceuticals?

Looking ahead, Telix expects FY 2026 revenue and other income to exceed US$1 billion, thanks to continued growth in its Precision Medicine business and increased commercial momentum from newly approved products. Revenue guidance factors in anticipated sales from Pixclara, a full-year contribution from RLS, and growth in key markets.

R&D spending guidance for the year was narrowed to US$240–260 million. The company's development pipeline remains active, with trial results and regulatory milestones upcoming across its oncology portfolio, including a planned FDA resubmission for Zircaix and an expansion of Pixclara's label. Integration planning for the ITM merger is also underway, aiming to boost Telix's competitive position in targeted therapies.

Telix Pharmaceuticals share price snapshot

Over the past 12 months, Telix shares have declined 7%, trailing the S&P/ASX 200 Index (ASX: XJO), which has declined 3% over the same period.

View Original Announcement

The post Telix Pharmaceuticals Q3 2026 earnings: revenue up, pipeline advances appeared first on The Motley Fool Australia.

This disappointing Tuesday session for the local markets followed a mixed start to the American trading week in the early hours of this morning.

The Dow Jones Industrial Average Index (DJX: .DJI) wasn't in a great mood after the weekend, losing 0.07% of its value.

However, things were far better for the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC), which rose a healthy 1.11%.

But let us return to ASX shares now and take stock of how the different ASX sectors performed this Tuesday.

Winners and losers

The hardest-hit corner of the market today was gold stocks. The All Ordinaries Gold Index (ASX: XGD) was no safe haven, plunging 1.52%.

Energy shares were also left out in the cold, with the S&P/ASX 200 Energy Index (ASX: XEJ) sinking 1.31%.

Mining shares weren't much better. The S&P/ASX 200 Materials Index (ASX: XMJ) ended up tanking 1.16%.

Financial stocks found themselves in the firing line too, as you can tell from the S&P/ASX 200 Financials Index (ASX: XFJ)'s 0.48% dive.

Industrial shares were next. The S&P/ASX 200 Industrials Index (ASX: XNJ) dipped 0.17% this session.

Our last losers today were communications stocks, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) retreating 0.12%.

Turning to our winners now, it was consumer staples shares that were the stars. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) was on fire today, shooting 1.14% higher.

Healthcare stocks had a great time of it too, evidenced by the S&P/ASX 200 Healthcare Index (ASX: XHJ)'s 0.87% surge.

We can say something similar for consumer discretionary shares. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) soared 0.76% this Tuesday.

Real estate investment trusts (REITs) were in a similar boat, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) advancing 0.7%.

Utilities stocks weren't too shabby either. The S&P/ASX 200 Utilities Index (ASX: XUJ) bounced up 0.49%.

Finally, tech stocks got over the line, illustrated by the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 0.36% uptick.

Top 10 ASX 200 shares countdown

Property stock Ingenia Communities Group (ASX: INA) was our top share this Tuesday. Ingenia stock rocketed 9.67% higher today to close at $4.65 a share.

This came after the company provided an update on its ongoing acquisition process.

Here's how the other high-flyers landed their planes this session:

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

If you're thinking about putting $1,000 into an ASX healthcare stock, Telix Pharmaceuticals Ltd (ASX: TLX) and Clinuvel Pharmaceuticals Ltd (ASX: CUV) are likely on your radar. Both are pioneering companies in Australian biotech with global ambitions, but they have some stark differences. Let's weigh up Telix Pharmaceuticals vs Clinuvel Pharmaceuticals shares to see which one might suit an investor chasing growth, value, or something in between.

The case for Telix Pharmaceuticals

Telix Pharmaceuticals is a commercial-stage biopharma player focused on developing and selling theranostic (both diagnostic and therapeutic) products using targeted radiation. Its key product, Illuccix, is approved for prostate cancer imaging in Australia, the US, and Canada, and the company is pushing for approvals in Europe and the UK. Beyond this, it's running over 20 clinical trials globally across major cancer types including prostate, kidney, brain, and bone marrow conditions. Telix is headquartered in Australia but operates on several continents.

Three stand-out points about Telix from the data:

• It's much larger than Clinuvel, with a market cap of $5.40 billion.
• Year to date, its shares are up an impressive 37.6%.
• The company sports a very high price-to-earnings (P/E) ratio of 108.53, reflecting high investor hopes for future growth rather than current earnings.

It's worth noting that Telix does not pay a dividend, so investors here are backing future growth rather than income.

The case for Clinuvel Pharmaceuticals

Clinuvel Pharmaceuticals is best known for its drug SCENESSE, which helps people with rare genetic disorders causing extreme intolerance to sunlight. Clinuvel focuses on innovative treatments for both genetic and vascular skin disorders, and earns most of its revenue from the US and Europe. Like Telix, it's an Australian company with an international outlook.

Highlights for Clinuvel from the figures:

• It is much smaller in scale than Telix, with a market cap of $413.5 million.
• The company's P/E ratio stands at 12.17, considerably lower than Telix's, indicating the shares are valued far closer to current earnings.
• Dividend-wise, Clinuvel pays a fully franked yield of 0.62%, recently delivering annual dividends of 5 cents per share, all fully franked, which is a rare treat among Aussie biotechs.

However, Clinuvel shares have dropped 34.4% year to date, reflecting a tough patch for the business or perhaps shifts in investor expectations.

Valuation comparison

Here's how the two stack up on main valuation and yield measures:

Note: Clinuvel's reported P/E and EPS are consistent, while Telix's very high P/E reflects its current tiny but positive earnings. Telix does not pay dividends, whereas Clinuvel does, with a fully franked yield.

Recent share price momentum

Comparing recent share price performance up to 7 October 2026:

• Telix Pharmaceuticals closed at $15.87 on 7 October 2026, with a year-to-date return of 37.6%.
• Clinuvel Pharmaceuticals closed at $8.20 on 7 October 2026, with a year-to-date return of -34.4%.
• Over the previous trading week, Telix shares jumped 2.99% on the most recent day, and showed strong overall momentum despite some volatile days.
• Clinuvel shares, in contrast, edged up 0.86% on the same day, but have been trending down for most of the year.

Which is the better buy?

If I was picking between Telix Pharmaceuticals and Clinuvel Pharmaceuticals to invest $1,000 right now, I'd lean toward Telix. The company is much larger, more diversified across major cancer indications, and has clear momentum both in its operational progress and in the share price this year. While Telix is definitely priced for optimism with a sky-high P/E multiple (108.53), its strong pipeline and global approvals for Illuccix are impressive.

Clinuvel does stand out for paying a fully franked dividend—very rare among Australian biotechs—and the shares trade at a far lower P/E ratio (12.17), which could appeal to value-seekers. Yet, the steep year-to-date drop in the share price raises questions. Unless I was after income above all else or felt confident in a turnaround, I'd be more comfortable backing Telix's proven momentum and future-facing pipeline in the current landscape.

The post Telix vs Clinuvel Pharmaceuticals: Which ASX healthcare share deserves your next $1,000 of investment capital? appeared first on The Motley Fool Australia.

Good news out of the US

Telix said earlier this week that it had been granted fast-track designation by the US Food and Drug Administration for its BiPASS program, which is evaluating a new compound to be used in prostate cancer detection.

BiPASS (Biopsy of the Prostate Avoidance Stratification Study) is evaluating the use of gallium-68 PSMA-PET imaging in combination with MRI for the detection of prostate cancer prior to taking a biopsy.

The company said this week that there was a large clinical need to develop a method to detect the cancer without a biopsy.

Telix said:

Fast Track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need, potentially accelerating patient access if approved. More than three million prostate biopsies are performed globally each year, yet up to 75% produce a negative result. Biopsy can be stressful and painful for patients and may provide no meaningful diagnostic benefit, highlighting the importance of improved diagnostic tools earlier in the patient journey.

Broker says the market could be large

UBS said if the BiPASS study is successful, it could expand the total addressable market for Telix's PSMA compounds by almost 100%.

They said:

Success would establish Telix as first to market in a large new diagnostic indication, a potentially transformative opportunity. We believe the market underappreciates both the commercial upside and probability of success of the BiPASS study.

UBS said its confidence was supported by data from two previous studies and feedback highlighting that there was a strong unmet need and a high likelihood of adoption.

They added:

We believe the FDA New Drug Application pathway and Transitional Pass Through payments could accelerate commercialisation and support higher peak sales than current expectations. We forecast a 10% FY26-FY35 CAGR for Telix's PSMA-PET franchise versus 6% implied by consensus. If BiPASS is successful, we expect meaningful uptake from FY29, with FDA approval partially de-risked and the recent Fast Track designation encouraging.

UBS said Telix was a rare biotechnology company in that it had a broad, advanced pipeline funded by its established precision medicine business.

They said the company also had a deep therapeutic pipeline supported by the recently announced acquisition of ITM.

UBS raised its price target on Telix shares from $22 to $26, compared with $16.19 at the time of writing.

This would constitute a 60.6% increase if achieved. Telix is valued at $5.24 billion.

The post UBS thinks Telix Pharmaceuticals shares will go how high? appeared first on The Motley Fool Australia.

This disappointing midweek session for the Australian markets comes after a more upbeat morning on the US markets.

The Dow Jones Industrial Average Index (DJX: .DJI) overcame some early jitters to finish 0.18% higher.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was a little more decisive, rising 0.45%.

But let's return to the local markets now and examine how today's trading conditions filtered down into the various ASX sectors this hump day.

Winners and losers

We had plenty of both winners and losers this Wednesday.

Leading the latter were financial stocks. The S&P/ASX 200 Financials Index (ASX: XFJ) was left out in the cold today, plunging 0.59%.

Mining shares had a rough one as well, with the S&P/ASX 200 Materials Index (ASX: XMJ) sinking 0.2%.

Industrial stocks were also left out. The S&P/ASX 200 Industrials Index (ASX: XNJ) ended up retreating 0.17% this session.

Next came communications shares, evidenced by the S&P/ASX 200 Communication Services Index (ASX: XTJ)'s 0.14% downgrade.

Our last losers this Wednesday were utilities stocks. The S&P/ASX 200 Utilities Index (ASX: XUJ) ended up dipping 0.06%.

Let's get to the winners now.

Leading the charge were healthcare shares, with the S&P/ASX 200 Healthcare Index (ASX: XHJ) roaring 1.09% higher.

We can say the same for gold stocks. The All Ordinaries Gold Index (ASX: XGD) experienced a 0.94% surge.

Real estate investment trusts (REITs) ran hot too, illustrated by the S&P/ASX 200 A-REIT Index (ASX: XPJ)'s 0.8% jump.

Consumer discretionary shares were also in demand. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) lifted 0.47%.

Energy stocks were next, with the S&P/ASX 200 Energy Index (ASX: XEJ) advancing 0.45% this hump day.

Consumer staples shares held up well, too. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) had gained 0.11% by the closing bell.

Finally, tech stocks only just got across the line, as you can see from the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 0.01% bump.

Top 10 ASX 200 shares countdown

This Wednesday's winner was the real estate investment trust Arena REIT (ASX: ARF). Arena units soared 12.98% higher today to close at $2.35 each.

This came after the REIT released a pleasing update regarding its childcare portfolio.

Here's how the other high flyers landed their planes:

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

What did Telix Pharmaceuticals report?

• Received FDA Fast Track designation for BiPASS, a pre-biopsy prostate cancer imaging program.
• BiPASS evaluates gallium-68 PSMA-PET imaging alongside MRI to guide prostate cancer diagnosis before biopsy.
• Completed Phase 3 patient enrollment for BiPASS, using Illuccix and Gozellix agents.
• Engaged positively with FDA, planning for a new drug application (NDA) to expand access to this imaging method.
• Clinical data shows combining PSMA-PET and MRI can reduce unnecessary biopsies by nearly 50%.

What else do investors need to know?

Telix Pharmaceuticals' BiPASS program aims to address a significant unmet need. Currently, over three million prostate biopsies are performed worldwide each year, but up to 75% yield negative results, making many procedures unnecessary and stressful for patients.

The FDA's Fast Track designation means Telix can engage with the regulator more frequently and could have its submission for approval reviewed more quickly. If approved, the BiPASS approach may broaden the use of advanced imaging in prostate cancer care.

In addition, the company's commercial products, Illuccix and Gozellix, are already approved in multiple global markets for imaging PSMA-positive prostate cancer. However, their use in pre-biopsy diagnosis remains investigational.

What did Telix Pharmaceuticals management say?

Dr. David N. Cade, Group Chief Medical Officer at Telix, said:

Fast Track designation reflects the FDA's recognition of the potential for BiPASS to address an important unmet need in the prostate cancer diagnostic pathway. We believe gallium-68 PSMA-PET, used alongside MRI, could help physicians make more informed decisions before biopsy, improve diagnostic confidence and potentially reduce unnecessary invasive procedures for patients. This designation supports continued close engagement with the FDA as we advance BiPASS toward an NDA submission.

What's next for Telix Pharmaceuticals?

Telix plans to submit a new drug application (NDA) for BiPASS to the FDA, seeking approval for use before invasive prostate biopsies. If successful, this could open up a larger market and provide faster, less stressful diagnostic options for many patients.

The business continues to build on a broad pipeline, with late-stage programmes for prostate, brain, and kidney cancers, and aims to establish further growth in international markets.

Telix Pharmaceuticals share price snapshot

Over the past 12 months, the Telix Pharmaceuticals share price has risen 11%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 2% over the same period.

View Original Announcement

The post Telix Pharmaceuticals wins FDA Fast Track for BiPASS prostate cancer imaging appeared first on The Motley Fool Australia.

On The Bull this week, Mark Gardner from MPC Markets shares his insights on three stocks.

Greatland Resources Ltd (ASX: GGP)

The Greatland Resources share price is up 40% over 12 months. 

Gardner has a buy call on this ASX gold mining share. 

He said: 

Greatland is moving into mid-tier gold and copper production.

GGP produced 328,987 ounces of gold and 14,594 tonnes of copper in full year 2026. The company beat production and cost guidance.

Net profit after tax of $862 million was up 156 per cent on the prior corresponding period.

The shares have fallen on weaker production guidance in full year 2027.

GGP offers an appealing entry price. In our view, the market is too focused on a weaker guidance rather than funded growth.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up 7% over 12 months. 

Gardner has a hold rating on this ASX healthcare share. 

He explained: 

The US Food and Drug Administration recently approved the company's brain cancer imaging drug Pixclara.

TLX shares soared on the news, but we believe the approval is largely priced in at this point.

However, the underlying business is in good shape. Group revenue of $US477 million in the first half of 2026 was up 22 per cent on the prior corresponding period.

The group gross margin of 55 per cent was up 2 per cent year-on year. The company maintained a cash balance of $US252 million at June 30, 2026.

Qualitas Ltd (ASX: QAL)

The Qualitas share price is down 34% over 12 months. 

Gardner has a sell recommendation on this ASX financial share. 

He commented:

Qualitas is an alternative real estate investment manager with about $11.6 billion of committed funds under management at June 30, 2026.

QAL manages investments across real estate private credit and real estate private equity via a range of investment solutions for institutional, wholesale and retail clients.

The company has exposure to construction lending in a sector we believe is under pressure from rising costs amid potentially higher interest rates.

The shares have fallen from $3.36 on August 13 to trade at $2.38 on September 24.

We would rather be on the sidelines until credit costs stop rising.

The post Buy, hold, sell: Telix Pharmaceuticals, Qualitas, Greatland Resources shares appeared first on The Motley Fool Australia.

That's because I believe it is worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, listed below are the 10 most shorted shares on the ASX this week according to ASIC.

The top 10 most shorted ASX shares

• Lotus Resources Ltd (ASX: LOT) remains at the top of the table despite its short interest falling sharply to 14.8%. Short sellers may still have concerns over the uranium producer's ability to ramp up production and generate attractive returns from Kayelekera.
• DroneShield Ltd (ASX: DRO) has seen its short interest fall materially to 14.3%. The counter-drone technology company remains heavily shorted, possibly due to its valuation and the uncertainty created by the ASIC investigation.
• Boss Energy Ltd (ASX: BOE) has jumped back into the top ten with short interest of 12.8%. Short sellers may be questioning the uranium producer's longer-term production outlook and whether Honeymoon can deliver the growth expected by the market.
• IperionX Ltd (ASX: IPX) has seen its short interest rise to 12.4%. The titanium company continues to make progress with its US operations, but short sellers may believe its valuation already assumes a significant amount of future growth.
• 4DMedical Ltd (ASX: 4DX) has short interest of 12%, which is down slightly week on week. This may be due to the medical technology company's valuation, which could be difficult to justify based on its current revenue base.
• PLS Group Ltd (ASX: PLS) has seen its short interest rise to 11.7%. Short sellers may be positioning for continued weakness in lithium prices, which would put pressure on margins and cash flow.
• Domino's Pizza Enterprises Ltd (ASX: DMP) has short interest of 11.7%, which is down slightly since last week. Short sellers may still want to see stronger evidence that its restructuring can restore earnings growth.
• Zip Co Ltd (ASX: ZIP) has returned to the top ten with short interest of 11%. This could reflect concerns that higher interest rates will impact the buy now pay later company's performance.
• Treasury Wine Estates Ltd (ASX: TWE) has seen its short interest fall to 10.7%. Short sellers may remain concerned about luxury wine demand and how quickly the Penfolds owner can improve its performance in the Americas.
• Telix Pharmaceuticals Ltd (ASX: TLX) has short interest of 10.6%, down from 11% last week. Despite positive regulatory progress, short sellers aren't giving up on this one.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

Let's see who they like.

Nufarm Ltd (ASX: NUF)

Nufarm shares are up by more than a third over the past 12 months, but UBS believes the stock still has a way to run.

The company this week put out new earnings guidance, saying it expected underlying EBITDA to increase by about 25% for the full year.

The company's seed technologies division was expected to deliver strong growth, led by growth in hybrid seeds and improved omega-3 pricing.

The company's crop protection division, however, was expected to have flat earnings.

On the negative side of the ledger, Nufarm said it expected to book $90 to $110 million in write-downs.

UBS said the expected result was a 2% to 3% downgrade from previous expectations.

The broker has a price target of $3.50 for Nufarm shares, compared with the current price of $3.12.

Telix Pharmaceuticals Ltd (ASX: TLX)

UBS has a very bullish price target on Telix after attending an R&D day, which the broker said "showcased the meaningful clinical development for TLX's diagnostics and therapeutics pipeline across prostate, brain, and kidney cancers''.

The broker said key highlights included progress in prostate cancer therapeutics and the company's Pixclara brain cancer imaging agent.

UBS said:

We believe the event further highlighted TLX's growing breadth and depth across precision medicine and therapeutics towards being a leading radiopharma business. We see multiple opportunities for meaningful value creation on the horizon, supported by TLX's deep expertise and clinical development experience with key catalysts over the next 12 months being resubmission/approval for Zircaix, topline data from BiPASS, topline data for TLX597, and data updates from ProstAct Global trial. Furthermore, we believe the recent deal with ITM improves isotope supply chain for ongoing therapeutic portfolio development, creates cost synergy, and adds additional therapeutic pipelines.

Telix announced this week a $3.3 billion merger with ITM, which, Telix said, is the world's leading supplier of therapeutic radioisotopes and the only producer of globally scaled, commercial-grade lutetium-77.

Telix said regarding the deal:

The merger will further strengthen Telix's leadership as a vertically integrated radiopharmaceutical company with the capabilities required to develop, manufacture and deliver innovative treatments to patients globally. The combined organisation will be uniquely positioned as a radiopharmaceutical industry leader, differentiated by a world-class scaled isotope manufacturing business with a validated global distribution network, a market-leading commercial precision medicine platform and the industry's most extensive therapeutic radiopharmaceutical pipeline.

Telix said ITM grew at a compound annual rate of 40% from 2021 to 2025 and generated US$273 million in revenue in 2025.

UBS has a price target of $22 on Telix shares, compared with the current price of $16.01.

The post 2 ASX shares UBS says could increase 13% to 37% appeared first on The Motley Fool Australia.

Brokers have lifted their ratings on several ASX 200 shares this week. 

Let's take a look.

AMP Ltd (ASX: AMP)

The AMP share price is $2.66, down 0.2% today and up 60% over 12 months.

Over the past month, this ASX 200 financial share has ascended 11%.

Macquarie upgraded AMP shares to a buy rating on Tuesday.

The broker has a 12-month price target of $2.92.

This suggests a potential 10% upside ahead.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $13.66, down 0.5% today and up 33% over 12 months. 

Over the past month, this ASX 200 gold share has fallen 14%.

This week, Evolution announced its annual general meeting (AGM) will be held on Thursday 26 November.

UBS upgraded Evolution shares to a buy recommendation yesterday.

The broker raised its 12-month price target from $15.20 to $16.

This implies a potential 17% upside ahead.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is $15.79, up 0.3% today and up 3% over 12 months. 

Over the past month, this ASX 200 healthcare share has fallen 2%.

This week, Telix announced a merger with ITM Isotope Technologies Munich SE.

ITM is a global leader in therapeutic radioisotopes.

Telix Pharmaceuticals will acquire 100% of ITM for US$1.65 billion upfront.

RBC Capital upgraded Telix shares to a buy rating this week.

The broker lifted its 12-month price target from $19 to $21.

This suggests a potential 33% upside ahead.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is $73.99, up 0.2% today and down 20% over 12 months.

Over the past month, this ASX 200 consumer discretionary share has fallen 11%.

Morgan Stanley upgraded Wesfarmers shares to a hold rating this week.

The broker reduced its 12-month price target from $78 to $70.

This implies a potential 5% downside ahead.

Wesfarmers will conduct its AGM on Thursday 29 October.

Ramelius Resources Ltd (ASX: RMS)

The Ramelius Resources share price is $3.84, down 3% today and up 7% over 12 months.

Over the past month, this ASX 200 gold mining share has edged 3% lower.

This week, the miner released new FY27 guidance.

Ramelius Resources expects gold production of between 205,000 ounces and 225,000 ounces in FY27.

Its estimated all-in sustaining cost (AISC) is A$2,150 per ounce to A$2,350 per ounce.

The miner expects FY27 growth capital expenditure of A$480 million to A$570 million.

Canaccord Genuity upgraded Ramelius Resources shares to a buy call this week.

The broker raised its 12-month price target from $5.70 to $6.15.

This indicates potential capital gains of 56% over the next year. 

The post 5 ASX 200 shares upgraded by experts this week appeared first on The Motley Fool Australia.