Telix Pharmaceuticals Ltd (ASX: TLX) shares have climbed 3% higher to $13.40 each, at the time of writing on Wednesday morning.
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 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 lower? Or is there potential for a rebound so strongly 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% 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.
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 the Telix Pharmaceuticals shares have the potential to climb even higher. The maximum $31.56 target price 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 making great momentum earlier this year, and I think the latest selloff is mostly sentiment driven rather than any long-term consideration about how the company can progress going forward.
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 coming months.
What could support a 100% share price gain?
Telix expects its FY2026 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 revenue guidance.
Another share price rally would hinge on whether the company's full-year results announcement is able to meet, or exceed, 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 the US FDA has granted Fast Track designation for its BiPASS program, which targets earlier and 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 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.
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.
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