Broker UBS has just significantly upgraded its share price target for Telix Pharmaceuticals Ltd (ASX: TLX) after the company announced some positive news this week.

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.

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Motley Fool contributor Cameron England 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.

The West African Resources Ltd (ASX: WAF) share price is on the radar after the company posted record group gold production of 127,950 ounces for the September quarter, helping YTD output to reach 360,857 ounces and supporting full-year guidance.

What did West African Resources report?

• Q3 Group gold production: 127,950 ounces
• Q3 Group gold sales: 135,245 ounces at an average realised price of US$4,240/oz
• Year-to-date gold production: 360,857 ounces
• Year-to-date gold sales: 350,127 ounces at US$4,550/oz
• Mining commenced at the M5 South underground deposit
• On track to achieve 2026 annual production guidance of 430,000–490,000 ounces

What else do investors need to know?

Mining at the M5 North open pit at Sanbrado improved, showing an 8% increase in mined ounces over the previous quarter, although slightly lower ore tonnes were processed. At Kiaka, open pit mining delivered an 11% boost in mined ounces, driven by more ore tonnes despite a slight dip in grade.

The company received government approval to update the Sanbrado life-of-mine plan, allowing for M5 South underground mining to kick off. Although explosives supply at Kiaka remains a bottleneck, improvements were seen with better supplier performance and onboarding of a second supplier.

What did West African Resources management say?

Executive Chairman and CEO Richard Hyde said:

WAF delivered another record quarter in Q3, with Group gold production of 127,950 ounces from our two large low-cost gold production centres of Sanbrado and Kiaka, which maintains our run rate at over 500,000 ounces per annum. YTD production of 360,857 ounces well-positions WAF to achieve our 2026 annual production guidance of 430,000 – 490,000 ounces of gold. I look forward to releasing our full quarterly activities report in the coming weeks.

What’s next for West African Resources?

West African Resources remains confident in achieving its 2026 annual gold production guidance, with strong operational performances at both Sanbrado and Kiaka. Development at M5 South underground is underway, with stoping due to begin in early H2 2027.

The company will continue to address operational challenges, such as explosives access at Kiaka, and expects greater flexibility in its mine plan to support steady production going forward.

West African Resources share price snapshot

Over the past 12 months, West African resources shares have risen 28%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 2% over the same period.

View Original Announcement

The post West African Resources delivers record Q3 gold output, on track for 2026 targets appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

NextDC Ltd (ASX: NXT), Generation Development Group Ltd (ASX: GDG), and Fortescue Ltd (ASX: FMG) shares closed at fresh 52-week lows on Wednesday afternoon.

Here’s what has happened to the ASX shares, and what brokers expect next.

NextDC shares

NextDC shares dropped around 2% on Wednesday and closed the day at just $10.23 a piece. That’s the lowest close price the data centre operator’s shares have traded at since March 2023.

At one point in the late afternoon, the ASX shares even fell as low as $10.17 each. They’ve now crashed around 20% over the past month, and are down 17% for the year to date.

There hasn’t been any price-sensitive news out of the business to explain the latest sell-off. It’s likely that investors are still digesting the company’s disappointing FY26 results announcement in late August.

A higher interest rate environment and climbing inflation are also likely spooking investors and causing many to rotate towards more defensive assets. 

The good news is that NextDC’s offerings – being physical data centres, including cooling, power, and security – are expected to benefit from stronger demand as data usage increases.

NextDC may have tumbled to a new multi-year low, but if analyst forecasts are anything to go by, it could be an opportune time for investors to buy in the dip.

Market Index data shows all brokers have a strong buy rating on the shares. The average $20.79 target price implies an upside of around 103% at the time of writing.

Generation Development Group shares

Generation Development Group shares closed around 1% lower on Wednesday afternoon, at a two-year low of $2.65 a piece. The diversified financial services company’s shares have now fallen roughly 21% over the past month, and are down a huge 55% so far in 2026.

Like NextDC, there hasn’t been any price-sensitive news out of the company to explain the latest decline. Generation Development Group’s latest market update was its FY26 financial results in late August. 

The company posted a record 37% year-on-year increase in funds under management, and a 21% rise in underlying NPAT. Group revenue also climbed 23%. 

The sell-off is most likely the result of a broad-based rotation away from financial shares over the past month, amid a higher interest rate environment and sky-high bond yields.

But Generation Development Group thinks it is well-placed to benefit from strong structural tailwinds across superannuation, retirement, and managed account markets in FY27. 

Again, the experts are optimistic that the ASX shares can rebound from the latest slump. Market Index data shows that all brokers have a strong buy rating on the shares. The $5.62 average target price implies an upside of around 112% at the time of writing.

Fortescue shares

Fortescue shares also tumbled around 2.5% on Wednesday, closing at $16.01 a piece. That’s the lowest trading price the ASX iron ore stock has seen since June 2025. The shares have also fallen 10% over the past month and are down 28% year to date.

The shares have mostly been hit by headwinds from falling iron ore prices. The company generates substantial cash flow from its large iron ore operations, so rising iron ore prices are a tailwind and falling prices are a headwind for the miner. 

At the time of writing, iron ore is trading at around US$91 per tonne, according to Trading Economics data. That’s the lowest price the metal has experienced since November 2022.

It looks like the experts are concerned that there is room for the shares to stage a turnaround over the next 12 months. Unless there is a sharp turnaround in the price of iron ore, Fortescue shares may continue to be under pressure.

Market Index data shows that the majority of brokers have a hold rating on the shares. But after the latest slump, the $17.88 average target price still implies a potential 12% upside ahead.

The post NextDC, Generation Development, Fortescue shares hit 52-week low. Can they rebound? 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.