Telix shares crashing 8% today: What happened?

Telix Pharmaceuticals Ltd (ASX: TLX) shares have dropped just over 8% to $14.44 at the time of writing on Wednesday.

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% for the 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 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 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 is 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, from US$230 million to $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 these all agree a 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.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. 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.