The Pilbara Minerals Ltd (ASX: PLS) share price has started the week in a positive fashion.

In morning trade, the lithium miner’s shares are up over 4% to $2.14.

This latest gain means Pilbara Minerals’ shares are now up 146% since the start of the year.

Why is the Pilbara Minerals share price pushing higher again?

The Pilbara Minerals share price has been pushing higher on Monday despite there being no news out of the company.

However, potentially giving its shares a boost is increasingly positive sentiment in the battery materials sector and a bullish broker note out of Macquarie Group Ltd (ASX: MQG) last week.

In respect to the latter, according to the note, the broker has an outperform rating and $2.70 price target on the company’s shares.

Based on the latest Pilbara Minerals share price, this implies potential upside of 26% over the next 12 months.

Why is Macquarie bullish?

Macquarie is bullish on the Pilbara Minerals share price due to its positive view on lithium demand and prices and its belief that the company is well-placed to benefit thanks to its growing production.

The broker believes that the company’s staged development of its Pilgan and Ngungaju operations can support a seven-year production growth rate of around 20% per annum.

It also notes that last week the company upgraded its resource estimate after incorporating the Ngungaju project. Pilbara Minerals has increased its total Measured, Indicated and Inferred Resource by 39% to 308.9 million tonnes.

This was larger than what the broker was expecting and reinforces the Pilgangoora Lithium-Tantalum Project’s position as the world’s premier hard rock lithium operation.

All in all, Pilbara Minerals’ shares may have smashed the market this year, but this leading broker still believes they can keep rising from here.

The post Pilbara Minerals share price lifts following bullish broker note appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy next week
• Here are the 3 heaviest traded ASX 200 shares this Friday
• Here are the 3 heaviest trading ASX 200 shares on Thursday
• Is the party only just getting started for ASX lithium shares?
• Why these seasoned investors are watching the Pilbara (ASX:PLS) share price

Motley Fool contributor James Mickleboro 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 Bruce Jackson.

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ASX Initial Public Offerings (IPOs) are the talk of the town in 2021 and market watchers interested in debuts have plenty to look forward to this week.

There are a massive 9 floats scheduled to happen this week. Here are the biggest ASX listings to look out for.

ASX IPOs to watch this week

Following are the top 5 ASX IPOs, by anticipated market capitalisation, expected to occur this week.

Legacy Minerals Holdings Limited’s (ASX: LGM) IPO will be today

Legacy Minerals is a copper and gold explorer with 5 prospective projects in NSW’s Lachlan Fold Belt.

Under its prospectus, investors could get their hands on Legacy shares for 20 cents each.

It hopes to have a market capitalisation of around $16.2 million.

Legacy’s float will happen at 11:30 this morning.

Way 2 VAT Ltd (ASX: W2V)

Way 2 Vat is the tech company behind the WV2 platform, an application that can reclaim value added tax (VAT) using artificial intelligence.

The platform has launched in Israel, Europe, and the Asia-Pacific region. It brought in US$1.03 million of revenue over the 12 months ended 31 December 2020.

Way 2 VAT’s IPO will hit the ASX on Friday.

Investors in its prospectus could get shares in the company for 20 cents apiece, giving it an expected market capitalisation of $29.7 million.

Copper Search Limited (ASX: CUS)

Copper Search is a mineral exploration and development company focused on the Gawler Craton Region in South Australia. It has 10 mineral exploration licences, covering 6,673 square kilometres.

The company’s 4 main project areas are the Peake and Denison, Mt Arthur, Ruby Hill, and Billa Kalina projects. It also has another potential project, Titan North.

Under its prospectus, Copper Search’s shares were going for 35 cents apiece, giving it an expected market capitalisation of $28.8 million.

Its ASX IPO will go ahead on Wednesday.

Koonenberry Gold Limited (ASX: KNB)

Koonenberry is a gold exploration company that owns the Koonenberry Gold Project.

The project is on a major gold nugget field that, until recently, had limited land access.

Additionally, the company’s wholly-owned subsidiary, Lasseter Gold Pty Ltd, owns 12 tenements associated with the Koonenberry Gold Project.

The company’s shares went for 20 cents apiece during its prospectus. It’s forecast to IPO on the ASX with a market capitalisation of between $$27.7 and $29.7 million.

The company is expected to list on Friday.

Pearl Gull Iron Limited (ASX: PLG)

Pearl Gull is an up and coming iron ore producer with a mining lease that covers a proportion of Western Australia’s Cockatoo Island.

It is exploring the island for high-grade iron ore, with drilling currently underway.

It expects the results from its initial drilling campaign before the end of the year, subject to laboratory assay turnaround times.

After offering shares for 20 cents each in its prospectus, Pearl Gull expects to debut on the ASX with a market capitalisation of $20.5 million.

Pearl Gull will be hitting the ASX on Thursday.

Other ASX IPOs happening this week

If those 5 floats aren’t enough for you, here’s what else will be hitting the ASX this week:

Heavy Minerals Limited (ASX: HVY) will be debuting on the ASX tomorrow. Its shares went for 20 cents apiece in its prospectus and it expects a market capitalisation of $10.2 million.

Dalaroo Metals Ltd (ASX: DAL) will hit the market on Wednesday, with an expected market capitalisation of $10.8 million. Its prospectus offer price was 20 cents.

Star Minerals ­Limited (ASX: SMS), which offered its shares for 20 cent under its prospectus, will hit the market on Thursday.

Finally, SSH Group Ltd (ASX: SSH) is expected to debut on Friday with a value of $11.9 million after offering its shares for 20 cents apiece in its prospectus.  

The post Here are some of the ASX IPOs happening this week appeared first on The Motley Fool Australia.

More reading

• Pilbara Minerals share price lifts following bullish broker note
• What to watch at the Telstra (ASX:TLS) Strategy for the Future event this week
• The Webjet (ASX:WEB) share price is nearing its 52-week high. Is now the time to buy?
• Nuix (ASX:NXL) share price falls despite acquisition news
• Afterpay (ASX:APT) shares are up 900% since the crash. These experts still think they’re worth holding

Motley Fool contributor Brooke Cooper 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 Bruce Jackson.

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The Telstra Corporation Ltd (ASX: TLS) share price will be one to watch very carefully this week.

This is because on Thursday the telco giant is holding its eagerly anticipated Strategy for the Future Investor Day event.

What should you watch out for?

Ahead of the event, the team at Goldman Sachs has listed a few things that it believes could have an impact on the Telstra share price.

The first thing Goldman thinks investors should look out for are its earnings targets. It commented: “We expect a range of earnings targets to be provided, which could include: (1) Narrowing FY23 EBITDA aspirations to $7.5 to $7.9bn (GSe $7.7bn, Visible Alpha Consensus Data $7.5bn); (2) A new cost-out program to be quantified (GSe A$500mn+); (3) Group revenue/earnings targets for FY22-25 to be provided (i.e. low single digit rev growth vs. GSe +1.7% p.a.).”

The broker also expects some commentary around its dividend policy post its T22 strategy. Goldman said: “The ongoing debate around its post T22 dividend policy will be addressed. We expect a preference for franked dividends and buybacks to remain (over un-franked).”

Another subject that could boost the Telstra share price is the company’s plan with its infrastructure assets. It explained: “We expect an update to be provided [on InfraCo], but this will be more strategy focused rather than incorporating specific commentary around the potential monetisation, given the corporate restructure is yet to be approved (vote by year-end).

Finally, Goldman Sachs believes there could be commentary around the company’s leadership post its T22 plan. The broker commented: “With current CEO Andrew Penn in his 7th year as CEO of Telstra, we believe commentary around the company’s leadership post T22 could be provided.”

Is the Telstra share price good value?

According to the note, Goldman Sachs remains bullish on the Telstra share price.

In fact, not only have its analysts reiterated their buy rating, but they have lifted their price target to $4.40.

Based on the current Telstra share price of $3.86, this implies potential upside of 14% over the next 12 months.

Furthermore, this potential return stretches to over 18% if you include the 16 cents per share fully franked dividend the broker is forecasting in FY 2022.

The post What to watch at the Telstra (ASX:TLS) Strategy for the Future event this week appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• Leading broker says Telstra (ASX:TLS) share price is a buy
• How have ASX telecommunication shares performed during the August 2021 earnings season?
• Analysts name Westpac (ASX:WBC) and this dividend share as buys
• Here are the 3 heaviest trading ASX 200 shares on Thursday

Motley Fool contributor James Mickleboro 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 owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Webjet Limited (ASX: WEB) share price has taken off, almost topping its 52-week high of $6.33 achieved in March. The online agent provided investors with a trading update that indicated its business is on the mend.

At the time of writing, Webjet shares are travelling slightly lower to $5.98, down 0.5%.

What’s driving the Webjet share price higher?

Webjet revealed on 31 August that its post-pandemic strategy is delivering results, with its WebBeds business profitable since July 2021. As travel restrictions have begun to ease across North America and Europe, strong demand has followed.

The company’s OTA (online travel agency) bookings outperformed the market by 1.6 times, increasing market share despite border closures. Webjet noted it is ready to benefit from domestic-focused tourism around the world. What will this mean for Webjet shares?

As a result, the business expects to become cash-flow positive within the first half of FY22.

Supporting the company’s bottom line, its cost base is projected to be 20% lower with significant cash reserves available.

The vaccination rollouts in the United States and Europe are well advanced, with both economies reopening. The forecast for Australia and New Zealand markets are that they’ll have a positive impact in the early 2022 calendar year.

So, are Webjet shares a buy?

Is now the time to buy?

Goldman Sachs released a broker note in late August following the company’s business update to the ASX.

The multinational investment bank noted the recent update reconfirms the view of a strong recovery in the travel sector.

However, there are risks that could derail the company’s plans. They included a delay in industry recovery, increased competition in the OTA segment, and impact of innovative bedbank models.

Nonetheless, Goldman Sachs placed a buy rating on the company’s shares with a 12-month price target of $6.40. Based on the current Webjet share price, this implies an upside of around 7%.

Webjet commands a market capitalisation of roughly $2.2 billion, and has a price-to-earnings (P/E) ratio of 15.46.

The post The Webjet (ASX:WEB) share price is nearing its 52-week high. Is now the time to buy? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Webjet (ASX:WEB) share price is up 50% this last year
• How have ASX travel shares performed during the August 2021 earnings season?
• When was the best ever day on the Webjet (ASX:WEB) share price chart?
• These are the 10 most shorted ASX shares
• How do you value the Webjet (ASX:WEB) share price?

Motley Fool contributor Aaron Teboneras 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 owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The embattled Nuix Ltd (ASX: NXL) share price is struggling to catch a bid on Monday even after the company announced a new acquisition.

At the time of writing, the Nuix share price is down 2.99% to $2.60.

Nuix share price lower despite US acquisition

Nuix has entered into an agreement to acquire all the shares in natural language processing (NLP) company Topos.

Topos’ software has been described as an “early-stage platform” that helps reduce workload by surfacing relevant or risky content faster.

The company’s technology is said to be “already able to automate accurate analysis and classification of complex content in documents, electronic communications, and social media”.

“NLP models can be defined directly by business users through the no-code user interface, reducing the time required to identify risk in an organisation’s data. Topos is then also able to present the risk assessment of confidential, sensitive and regulated content in user-friendly dashboards.”

Nuix highlights a number of benefits to the acquisition, citing that it can “optimise the technology to benefit its Investigations, eDiscovery and GRC (Governance, Risk and Compliance) customers, further enhancing the unstructured data processing power of the Nuix Engine.”

The initial cost of the acquisition is US$5 million on financial close which is expected in September 2021. There is the potential for a further US$20 million. This would be comprised of US$18.5 million in cash to the seller of the shares in Topos and up to US$1.5 million in performance rights payable over 30 months.

Management commentary

Nuix CEO Rod Vawdrey commented on the acquisition, saying:

Topos will strengthen Nuix’s product offering by helping customers get to relevant data even faster. The potential for user-friendly dashboards and for users to easily customise the software to their specific needs also reflects Nuix’s focus on empowering our customers to search through unstructured data at speed and scale. We look forward to Christopher Stephenson [Topos CEO] and his talented team joining Nuix.

Nuix share price snapshot

The Nuix share price is down 68% year-to-date after missing prospectus forecasts and a looming legal case from the company’s ex-CEO.

Nuix shares seem to have largely digested the bad news, trading mostly sideways since the beginning of June.

The post Nuix (ASX:NXL) share price falls despite acquisition news appeared first on The Motley Fool Australia.

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• ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200
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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. 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 Bruce Jackson.

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The Afterpay Ltd (ASX: APT) share price has been a remarkable performer in recent times. In fact, ‘diamond hands’ shareholders have been rewarded with a gargantuan 900% rally since the crash of March 2020.

However, the rapid ascension turned into a volatile rollercoaster this year. On a year-to-date basis, the Afterpay share price is 6.3% above its 2021 starting position. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has gained 10.8% over the same period, outperforming the high-flying buy now pay later (BNPL) company.

Now that Afterpay is expected to hitch a ride with US-based payments giant Square Inc (NYSE: SQ), two investing experts have shared their thoughts on whether Afterpay is worth a spot in the portfolio.

Validation a good sign for Afterpay shares

It has been a market darling for much of its existence since its initial public offering (IPO) in 2017. In the space of four short years, Afterpay has delivered 4,187% in returns to investors. That works out to be a compound annual growth rate (CAGR) of 142.1%.

Now that it looks set to be acquired by Square, two experts have weighed in on whether Afterpay shares are still desirable at their current price. These experienced investors are Chris Stott from 1851 Capital and James Gerrish from Market Matters.

Firstly, Mr Stott pointed out the commendable leadership from Nick Molnar and Anthony Eisen, acknowledging the achievement of securing a deal with Square. Additionally, Stott considered Afterpay shares to be a hold at the moment, stating:

We would say people should hold, and then roll into the Square offer. Hold the Square shares if you can. We think certainly with them as a partner now that they’ve got significant capital fire-power behind them to really drive their next level of growth over the medium to longer term.

Building on this, Mr Gerrish also rated Afterpay shares a hold at this stage. Furthermore, the portfolio manager highlighted recent events that serve as validation for the BNPL sector. For instance, Amazon.com, Inc. (NASDAQ: AMZN) partnering with US-based BNPL company Affirm Holdings Inc (NASDAQ: AFRM) to offer payment instalments to the e-commerce giant’s checkout.

While Gerrish remained positive on Afterpay shares, he shared his view that Zip Co Ltd (ASX: Z1P) could have more upside in the short term.

Integrations galore

As Gerrish points out, the next year will involve plenty of integration between Afterpay and Square. One such integration involves Square’s iconic ‘Cash App’.

According to a release, Afterpay consumers will be able to manage their instalments and repayments directly within the Cash App. This will open the door to roughly 10 million monthly active users of Square’s app for Afterpay.

The post Afterpay (ASX:APT) shares are up 900% since the crash. These experts still think they’re worth holding appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Affirm Holdings, Inc., Amazon, Square, and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon and short January 2022 $1,940 calls on Amazon. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has nudged into the green from the opening of trade on Monday.

ANZ shares are on the move as the banking giant eyes its next moves in commercial lending after the Australian Treasury extended its small-medium enterprise (SME) recovery loan scheme.

Let’s dive in to understand what’s at play here.

Government fiscal assistance props the market

The Australian government announced the SME recovery loan package last year on the back of the lockdown measures to curb COVID-19.

Borrowers can access up to $5 million with the government guaranteeing 80% of the loan amount. There are both secured and unsecured loan offerings.

Originally, it was intended for businesses with a turnover of less than $250 million which had received the JobKeeper fiscal stimulus and support package between January and March this year.

However, the government has since removed those requirements and opened up the loan criteria. The scheme is now extended to basically any SME with a turnover of less than $250 million that’s been impacted by COVID-19 or wants to expand its operations.

The funds can then be used to support investment decisions, even to make acquisitions and refinance pre-existing debt.

ANZ jumps on board

In view of the government’s decision to extend the loans, ANZ has jumped at the opportunity. The bank looks set to help SMEs in growing their operations as we navigate out of the pandemic.

ANZ’s Isaak Rankin, head of commercial and private banking, believes the scheme will allow businesses with “good prospects” to “rebound and grow”, according to reporting from The Australian.

The previous scheme’s structure was too restrictive, Rankin is reported as saying. However, he says businesses now have more “confidence and predictability” in the future with access to the scheme.

More business confidence, coupled with easier access to credit, could stem a robust recovery for SMEs, according to Rankin. In addition, people will start to invest when businesses “have access to funds”. This forms the flavour of the “rebound we (ANZ) would like to see”, Rankin reportedly said.

As such, ANZ believes the government’s loan scheme is “one of the building blocks” towards achieving this growth and will be ready for a lending blitz in the coming months.

The SME recovery loan scheme ends on 31 December 2021, for reference.

ANZ share price snapshot

The ANZ share price has climbed 22% this year to date, extending the gain over the previous 12 months to 57%.

These results have outpaced the S&P/ASX 200 Index (ASX: XJO)’s return of around 25% over the past year.

Despite this, ANZ shares have slipped 6% into the red over the last month.

The post ANZ (ASX:ANZ) share price edging higher amid lending blitz appeared first on The Motley Fool Australia.

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• The ANZ (ASX:ANZ) share price is down 4% in a month. Here’s why.
• How have ASX bank shares performed during the August 2021 earnings season?

The author Zach Bristow has no positions 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 Bruce Jackson.

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The Galan Lithium Ltd (ASX: GLN) share price has tanked 20% from its all-time high of $1.34 on 6 August.

Galan is an emerging lithium producer focused on its Hombre Muerto West (HMW) Project located in Argentina.

Its recent weakness could be pointed at the company’s $50 million capital raising and weakness across the broader market and lithium sector.

Galan successfully raises $50 million to accelerate development plans

On 13 August, Galan advised that it received firm commitments to raise $50 million through a two-tranche institutional placement priced at $1.15 per share.

The first tranche will issue 25.9 million shares, raising a total of $29.8 million. The issue price of $1.15 represents a 10.2% discount to its last closing price of $1.28 on 11 August.

The company said that “as a result of significant demand received in the placement, Galan is also seeking to issue a further 17.6 million new fully paid ordinary shares in a second tranche”, subject to shareholder approval.

Unfortunately, the Galan Lithium share price tanked 5.47% to $1.21 on the day of the announcement.

The funds from the placement will be used to accelerate including:

• Drilling activities at HMW to establish well fields for production and convert existing resources to reserves
• Ongoing exploration activities
• Completion of feasibility studies at HMW and Canadelas
• General working capital

Broader volatility weighs on Galan Lithium share price

The S&P/ASX 200 Index (ASX: XJO) has struggled to make headway in recent weeks, driven by factors such as the delta variant and concerns about economic growth.

The market tested the resolve of bullish investors last week, plunging a harsh 1.90% on Thursday 9 September to a 1-month low of 7,369.5.

In addition, the broader lithium sector has also struggled to re-test previous highs, with high profile names such as Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) down a respective 16% and 10% from August record highs.

The post Why the Galan Lithium (ASX:GLN) share price has tanked 20% in 5 weeks appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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 Bruce Jackson.

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The SelfWealth Ltd (ASX: SWF) share price has had a stellar past week.

In the last 7 days, shares in the online broker have stormed 23% higher.

Let’s take a look at what’s been fuelling the SelfWealth share price.

What’s been fuelling the SelfWealth share price?

SelfWealth has not released any notable news in the past week that could explain the bullish price action.

However, the online broker was on the receiving end of some very positive market commentary.

In a recent interview, fund manager Emanuel Datt highlighted that SelfWealth has the potential to become the next Afterpay Ltd (ASX: APT).

According to the fundie, the online broker has the potential to expand its platform to offer other financial services.

Prior to its recent rally, the SelfWealth share price was on the slide after releasing its full-year report for FY21.

How did SelfWealth perform in FY21?

Late last month, shares in SelfWealth were hammered despite delivering record results across key performance metrics.

Highlights from the company’s FY21 results included:

• Revenue of $18.4 million, up 135% year on year
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of $0.5 million compared to a $2.4 million loss in FY20
• Net loss of $0.6 million compared to a loss of $3 million in FY20
• 95,189 active traders on the platform, up 105%
• Gross profit margin increased to 41.4% from 33.4%

SelfWealth highlighted the release of various products and features for FY21.

These included adding ASX announcements to the platform, flat-fee US trading and the launch of iOS and Android mobile apps.

In addition, SelfWealth noted an improvement in its profitability, with a positive operating cash flow of $1.1 million in FY21.

What’s next for SelfWealth?

SelfWealth is a budget platform that offers retail investors a flat fee of $9.95 for every trade on the ASX.

In addition, the company also offers auxiliary services such as a community share market forum and a premium forum for $20 per month.

The online broker also released a roadmap earlier this year that highlights the company’s expansion plans.

Some planned features include members funding their ASX accounts in real time and live pricing.

Despite bouncing strongly in the past week, shares in SelfWealth remain more than 22% lower since the start of 2021.

At the time of writing, the SelfWealth share price has dropped 4.65%.

The post The SelfWealth (ASX:SWF) share price is up 23% in a week. What’s next? appeared first on The Motley Fool Australia.

More reading

• The Selfwealth (ASX:SWF) share price could be the next Afterpay: fundie
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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In morning trade, the Telix Pharmaceuticals Ltd (ASX: TLX) share price is on the rise.

At the time of writing, the biopharmaceutical company’s shares are up 3% to $6.52.

Why is the Telix share price rising today?

Investors have been bidding the Telix share price higher this morning following the release of a positive update.

According to the release, the company has entered into an exclusive commercial distribution agreement with Bologna-based Radius for Telix’s prostate cancer investigational imaging product Illuccix for the Italian market.

This agreement builds on the support Radius has provided Telix in distributing the product for magisterial use in Italy.

Under the terms of the agreement, Radius will be the exclusive commercial distributor of Illuccix in Italy, an EU5 country, for a period of three years from the national approval date.

This is certainly a good company for Telix to be working with. The release notes that Radius is the market leader in the supply of gallium generators across Italy, a position which enables it to provide a secure supply of the Ga necessary for launching Illuccix. Radius also has the advantage of being a supplier and service provider for cyclotrons and radiotherapy suites across Italy.

Management commentary

Telix’s EMEA President, Richard Valeix, commented: “As we prepare for the European launch of Illuccix we are pleased to have entered into this agreement with Radius. Italy is an important market and we look forward to working with Radius to bring this highly anticipated imaging agent to Italian men, living with prostate cancer, once regulatory approval is received. Partnering with such a capable and patient-centric leader in nuclear medicine aligns with Telix’s mission of helping patients with cancer live longer, better quality lives.”

This sentiment was echoed by Radius CEO, Dr. Mauro Mei. He said: “This commercial partnership with Telix will enable us to open the door to state-of-the-art PSMA imaging for the 39,000 men diagnosed with prostate cancer each year in Italy.”

“Given that PSMA imaging represents the latest standard of care for prostate cancer imaging, having recently been included in European and U.S. clinical practice guidelines, we are delighted to be adding Illuccix to our nuclear medicine portfolio and look forward to bringing this product to Italian men in need, upon receipt of regulatory approval,” he added.

Following today’s gain, the Telix share price is now up 250% over the last 12 months.

The post Why the Telix (ASX:TLX) share price is charging higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of TELIXPHARM DEF SET. 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 Bruce Jackson.

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