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Where is the value amongst ASX healthcare shares?

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In what has been a volatile start to 2026, ASX healthcare shares have been amongst the sharemarket losers. 

The S&P/ASX 200 Health Care Index (ASX: XHJ) has fallen almost 17% year to date. 

However, there are opportunities to find value for investors. 

Let’s look at three ASX healthcare shares drawing positive outlooks from experts. 

Telix Pharmaceuticals Ltd (ASX: TLX)

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.

Telix shares have rebounded over the past couple of months, rising 55% since mid February. 

Telix shares rose in March largely because several value-driving catalysts hit at once, improving both fundamentals and investor sentiment.

However, they remain down 48% over the last year. 

In good news for investors, brokers are expecting Telix shares to recover even further. 

Recently, Bell Potter retained its buy rating and $19 price target on this radiopharmaceuticals company’s shares. 

From yesterday’s closing price of $13.64, this indicates a further upside of roughly 39%. 

Mayne Pharma Group Ltd (ASX: MYX)

Mayne Pharma Group is another ASX healthcare stock that is down significantly from yearly highs. 

It has fallen 32% year to date. 

This includes a 6% decline yesterday, as investors may have reacted negatively to fresh tariff worries.

However, the company is confident the new tariffs will have “no material impact” on its FY27 earnings profile.

The stock price closed yesterday at $2.16, and after the recent fall, it may be another value play.

Two analysts’ forecasts via TradingView have an average one-year price target of $5.75 on the stock, indicating more than 160% upside. 

EBR Systems Inc (ASX: EBR)

EBR Systems Inc is engaged in treatment for patients suffering from cardiac rhythm diseases by developing therapies using wireless cardiac stimulation. 

The company’s Wise CRT System uses proprietary wireless technology to deliver pacing stimulation directly inside the left ventricle of the heart.

It is down roughly 30% year to date. However, it is also drawing positive ratings from brokers. 

Yesterday, the company released a preliminary version of its operating metrics. 

The report showed strong Q1 2026 growth in commercial cases.

This prompted Bell Potter to release updated guidance on this ASX healthcare stock along with a price target of $2, indicating a potential 194% rise. 

The post Where is the value amongst ASX healthcare shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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