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3 Australian Growth Stocks To Own In October 2026

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China's recent 4.5% GDP result, powered by strong high tech exports, shows how quickly capital can flow toward companies that capture a clear growth story. Australian high growth businesses with management heavily invested in their own shares tap into a similar idea. You get leadership that feels every win and mistake alongside you. This article highlights three such fast growing, owner backed stocks from our screener.

The three stocks highlighted here offer a compelling starting point if you want exposure to fast growing businesses where management and analysts share an optimistic outlook. However, if you want the standouts, these 27 high growth high conviction stocks are the most outstanding.

Mesoblast (ASX:MSB)

Mesoblast is a Melbourne based biotech focused on allogeneic regenerative cell therapies like Ryoncil and Remestemcel L, which anchor its inclusion in this fast growth, insider backed screener. The business reported US$120 million from its cellular medicines platform and holds a market value near A$2.6b.

Mesoblast is a pure play on the screener's theme, with insiders backing a concentrated regenerative medicine pipeline that links potential upside to how well products like Ryoncil and Remestemcel L scale from niche indications into broader inflammatory and cardiovascular use.

"Although the first in class FDA approval of Ryoncil and rapid onboarding of key transplant centers indicate potential for durable revenue expansion, the narrow initial pediatric indication and dependence on continued payer support could affect the pace at which product sales scale and influence near term earnings leverage."

What matters from here is how this pressure on the business model ultimately filters through to margins and long term growth expectations.

That margin story is only half the picture, and the full narrative for Mesoblast sets out how Mesoblast's risk, capital needs and potential product ramp could interact from here.

ASX:MSB Earnings & Revenue Growth as at Oct 2026
ASX:MSB Earnings & Revenue Growth as at Oct 2026

Telix Pharmaceuticals (ASX:TLX)

Telix Pharmaceuticals focuses on radiopharmaceutical diagnostics and therapies that fit the screener's fast growth and insider-aligned theme, with most income coming from its Precision Medicine arm, which generated about US$705 million, and a market value around A$5.3b.

Telix Pharmaceuticals draws investor attention because its radiopharmaceutical portfolio links a clear medical need with a commercial track record, while insiders and analysts back an ambitious expansion plan that fits squarely with the screener's fast growth focus.

"Their primary revenue generating imaging agents, 'Illuccix' and 'Gozellix', are utilised in 23+ countries worldwide, including key markets such as the U.S, Europe, China and Japan, with revenue figures of $803.8m (USD) in the 2025 Financial Year."

What happens if a single pressure point in that plan changes the balance between rising demand and the cost of delivering it at scale?

If that balance shifts, you will want the full narrative for Telix Pharmaceuticals to see how Telix Pharmaceuticals could keep revenue momentum accelerating while key risks stay contained.

ASX:TLX Earnings & Revenue Growth as at Oct 2026
ASX:TLX Earnings & Revenue Growth as at Oct 2026

Codan (ASX:CDA)

Codan combines a fast growing Communications arm that sells DTC and Zetron radio systems to governments and emergency services with its Metal Detection division. These segments generate about A$506 million and A$362 million respectively, and the company carries a market value near A$11.4b.

Codan matters for this fast growth, insider backed screen because its Communications business turns mission critical radio systems into recurring software and service relationships that can compound for years if management keeps executing.

"Heightened geopolitical tensions, increased defense spending, and the need for resilient communications infrastructure, especially in light of remilitarization and growing demand for unmanned systems, are expanding Codan's customer base and forward order book in defense and public safety, driving both near-term and long-term revenue growth."

The key question is how one unseen pressure on pricing power could alter that growth profile just as expectations are at their highest.

If you want to see whether that unseen pricing pressure is masking an even stronger earnings engine, read the full narrative for Codan for the full Codan story.

ASX:CDA Earnings & Revenue History as at Oct 2026
ASX:CDA Earnings & Revenue History as at Oct 2026

Seeking Fresh Alternatives Before They Fly

Markets move fast and the freshest breakouts rarely stay under the radar for long. To spot shifting momentum and underpriced quality before the crowd catches up, consider acting early.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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