In this article, we will list the 5 Best Australian Stocks to Buy in 2026. Please visit 8 Best Australian Stocks to Buy in 2026 if you would like to see the extended list and the methodology behind it.
5. Telix Pharmaceuticals Limited (NASDAQ:TLX)
Stock Upside Potential: 71.85%
Number of Hedge Fund Holders: 4
Telix Pharmaceuticals Limited (NASDAQ:TLX) is among the best Australian stocks to buy in 2026. Telix Pharmaceuticals Limited (NASDAQ:TLX) is using a combination of internal programs and partnership arrangements to expand its product portfolio. On April 21, the company announced that it plans to present clinical trial data for its prostate cancer drug candidate at the American Society of Clinical Oncology Annual Meeting. This event is planned for May 29 to June 2 in Chicago.
The presentation will focus on the safety and tolerability of TLX591-Tx based on the findings from Part 1 of the ProstACT Global Phase 3 study. The Part 1 trial assessed the safety, tolerability, biodistribution, and radiation dose profile of the drug candidate in patients with castration-resistant prostate cancer. Some 36 patients were enrolled for this trial. Part 2 trial targets around 490 patients with castration-resistant prostate cancer after prior treatment.
Telix Pharmaceuticals Limited has more than a dozen clinical trials underway worldwide. These include the trial of a potential brain cancer therapy. On April 14, Telix announced that the first patient had been dosed in the Phase 3 IPAX-BrIGHT trial of its brain cancer drug candidate TLX101-Tx. The company cast this as a milestone, noting that TLX101-Tx is the first radiopharmaceutical therapy for glioblastoma to enter Phase 3 development.
Away from internal efforts, Telix Pharmaceuticals Limited is also forging strategic partnerships. On April 13, the company announced a collaboration with Regeneron Pharmaceuticals to develop and commercialize radiopharmaceutical treatments for cancer patients. The companies agreed to share costs and profits. Telix Pharmaceuticals Limited said it could earn as much as $2.1 billion in milestone payments from this arrangement.
Telix Pharmaceuticals Limited (NASDAQ:TLX), based in Melbourne, Australia, is a global biopharmaceutical company. It develops radiopharmaceuticals products for cancer diagnosis and treatment. Its prostate cancer imaging agent has won regulatory approvals in Australia, the US, and Canada. The company’s pipeline features more than 18 ongoing clinical trials globally.
4. Kazia Therapeutics Ltd (NASDAQ:KZIA)
Stock Upside Potential: 105.08%
Number of Hedge Fund Holders: 6
Kazia Therapeutics Ltd (NASDAQ:KZIA) is among the best Australian stocks to buy in 2026. Kazia Therapeutics Ltd (NASDAQ:KZIA) recently strengthened its team and expanded its platform as it works to address unmet needs in the cancer treatment space. On April 15, the company announced the appointment of Sudha Rao as its chief scientific officer.
Rao brings over 20 years of pharmaceutical research and development experience to Kazia, which says this will strengthen its scientific leadership team. Rao is the lead inventor on some 39 international patents.
At Kazia, Rao will lead research and development activities for the company’s drug pipeline. This will involve overseeing the company’s flagship paxalisib program, which is being developed as a therapy for brain cancer, breast cancer, and other oncology indications.
Kazia CEO John Friend said that Rao is a leading breast cancer researcher and translational epigenetics scientist. Notably, Rao came shortly after Kazia said on April 13 that it has licensed a drug development platform from QIMR Berghofer for around $1.39 million.
Separately on April 15, the equity research firm Laidlaw initiated coverage of Kazia Therapeutics Ltd (NASDAQ:KZIA) with a Buy rating and a price target of $25. For this bullish view, Laidlaw pointed to the potential of Kazia’s lead drug candidate paxalisib. The firm cited a Phase 1b study finding that all treated patients demonstrated efficacy. Laidlaw noted that the study is ongoing and expects more results in 2026 and 2027.
Additionally, Laidlaw noted that Kazia and the FDA will meet in Q2 2026 to discuss the next development step for paxalisib in brain cancer. According to the firm, the meeting could lead to Phase 3 study for a standard approval of paxalisib.
Kazia Therapeutics Ltd (NASDAQ:KZIA) is a biotechnology company focused on developing cancer treatments. The company’s product pipeline includes potential therapies for brain cancer, liver cancer, and renal cancer. Kazia Therapeutics aims to address cancer treatment areas underserved by existing therapies.
3. Mesoblast Ltd (NASDAQ:MESO)
Stock Upside Potential: 116.32%
Number of Hedge Fund Holders: 5
Mesoblast Ltd (NASDAQ:MESO) is among the best Australian stocks to buy in 2026. On April 14, Mesoblast Ltd (NASDAQ:MESO) announced that it has secured exclusive global rights to a patented technology platform from Mayo Clinic. This platform uses chimeric antigen receptors, and it helps improve the performance of mesenchymal lineage stromal cell (MSC) therapeutic products.
The company said the platform is designed to help mesenchymal stromal cells to better locate and act on inflamed tissue. Mesoblast plans to use the technology to sharpen the ability of its therapies to more precisely and effectively target areas of disease, increase immune response, and support tissue regeneration.
With this platform, Mesoblast sees an opportunity to generate therapies for diseases such as ulcerative colitis and Crohn’s disease. Moreover, the company sees potential for therapies for other immune disorders with the CAR technology platform in its grasp.
The CAR technology platform was developed by scientists at Mayo Clinic, and the license was held by a startup formed by Mayo Clinic. Mesoblast acquired that startup to secure the exclusive rights to the platform. Mayo Clinic will continue to support Mesoblast in advancing the technology and products tied to the platform.
Mesoblast paid for the license acquisition with its shares, though the financial details of the transaction were not disclosed.
Mesoblast Ltd (NASDAQ:MESO) is an Australian biotech company founded in 2004 and based in Melbourne. The company develops treatments for a variety of health problems, including inflammatory ailments, cardiovascular disease, and back pain.
2. Ioneer Ltd ADR (NASDAQ:IONR)
Stock Upside Potential: 182.14%
Number of Hedge Fund Holders: 3
Ioneer Ltd ADR (NASDAQ:IONR) is among the best Australian stocks to buy in 2026. Ioneer Ltd ADR (NASDAQ:IONR) is fighting to save its proposed lithium and boron mining project in Nevada. On April 8, the company said that it is confident that the appeals court will affirm a judge’s ruling regarding its Nevada project permit. The company said this in response to an appeal filed earlier that day by environmentalists challenging the approval of its lithium mining project in Nevada.
Ioneer secured the final federal permit for the Rhyolite Ridge lLithium-Boron Project in 2024. But the project approval was swiftly challenged in court. On March 31, a judge at a US district court in Nevada upheld the approval, and Ioneer said the project would strengthen America’s supply chain of critical materials and bolster national security. But environmentalists appealed the judge’s decision. Ioneer holds that the permit was granted properly and that the appeals court will rule in its favor.
Rhyolite Ridge mine is intended to produce lithium and boron, materials used in electric cars and renewable energy. In 2022, Ioneer signed offtake agreements with Ford Motor Company and a joint venture of Toyota and Panasonic. Last year, Ioneer secured a $996 million loan for the project with the U.S. Department of Energy.
Sydney-based Ioneer Ltd ADR (NASDAQ:IONR) is a mining company focused on supplying lithium and other materials used in electric car and renewable energy industries. Ioneer Ltd is developing a lithium-boron project in Nevada, US that will help strengthen the domestic supply chain of critical materials.
1. Radiopharm Theranostics ADR (NASDAQ:RADX)
Stock Upside Potential: 383.35%
Number of Hedge Fund Holders: 3
Radiopharm Theranostics ADR (NASDAQ:RADX) is among the best Australian stocks to buy in 2026. Radiopharm Theranostics ADR (NASDAQ:RADX) continues to advance its clinical programs with solid results. On April 20, the company presented initial findings from an early-stage trial of its cancer drug candidate at the American Association for Cancer Research Annual Meeting.
The drug candidate, 177Lu-RAD202, is being developed as a treatment for various cancers, including breast cancer. In the Phase 1 HEAT clinical trial, 177Lu-RAD202 was evaluated in patients with advanced HER2-positive breast and urothelial cancers. These patients had been through multiple metastatic therapies before. In this trial, they received the lowest dose of 30 mCi.
In this study, 177Lu-RAD202 showed encouraging tumor uptake. It also demonstrated a favorable safety profile. With these findings, Radiopharm has been approved to advance the trial to the next dose level of 130 mCi. This dose escalation approval covers cohort 1 and cohort 2.
The company is conducting the Phase 1 HEAT study at clinical centers across Australia. It aims to complete the Phase 1 dose escalation by the end of this year.
At this point, Radiopharm has a busy clinical program, with a pipeline that includes five Phase 1 trials and one Phase 2 trial. These trials cover diverse cancer types, including lung cancer, prostate cancer, breast cancer, and brain cancer.
On April 7, Radiopharm announced a supply deal with Siemens for its brain cancer drug program. Under this deal, Siemens will manufacture and supply doses of Radiopharm’s drug candidate RAD101 for Phase 3 registrational trials in the US.
Radiopharm Theranostics ADR (NASDAQ:RADX), headquartered in Melbourne, Australia, is a biotech focused on developing products for cancer care. It specializes in developing first-in-class radiopharmaceuticals for cancer diagnosis and treatment.
While we acknowledge the potential of RADX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RADX and that has 100x upside potential, check out our report about the cheapest AI stock.
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