Icon’s (ICLR) Market Perform Rating Reaffirmed at Leerink Partners

Icon (NASDAQ:ICLR)‘s stock had its “market perform” rating restated by equities research analysts at Leerink Partners in a research note issued on Thursday, Marketbeat.com reports. They currently have a $105.00 target price on the medical research company’s stock. Leerink Partners’ price objective suggests a potential downside of 21.14% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Zacks Research upgraded Icon from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. BMO Capital Markets started coverage on Icon in a report on Thursday, November 13th. They set a “market perform” rating and a $175.00 target price for the company. Mizuho set a $216.00 price target on shares of Icon in a report on Friday, January 9th. TD Cowen raised their price target on shares of Icon from $172.00 to $183.00 and gave the stock a “hold” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $184.93.

Icon Trading Down 7.9%

NASDAQ:ICLR opened at $133.14 on Thursday. The company has a market capitalization of $10.75 billion, a P/E ratio of 18.02, a PEG ratio of 3.03 and a beta of 1.27. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31. Icon has a 12 month low of $125.10 and a 12 month high of $211.00. The firm has a fifty day simple moving average of $179.90 and a 200-day simple moving average of $176.28.

Hedge Funds Weigh In On Icon

Several large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in Icon by 11.5% in the 2nd quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after buying an additional 56 shares during the period. Sanctuary Advisors LLC boosted its stake in Icon by 1.1% during the fourth quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock worth $899,000 after buying an additional 56 shares during the period. Spire Wealth Management increased its position in shares of Icon by 10.1% during the third quarter. Spire Wealth Management now owns 678 shares of the medical research company’s stock valued at $119,000 after acquiring an additional 62 shares during the last quarter. Signaturefd LLC increased its position in shares of Icon by 12.6% during the fourth quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock valued at $117,000 after acquiring an additional 72 shares during the last quarter. Finally, New Wave Wealth Advisors LLC raised its stake in shares of Icon by 5.1% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock valued at $270,000 after acquiring an additional 72 shares during the period. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Icon Company Profile

Icon plc (NASDAQ: ICLR) is a global provider of outsourced drug development and clinical research services to the pharmaceutical, biotechnology and medical device industries. The company partners with clients at all stages of the product life cycle, offering expertise in protocol design, trial execution and regulatory compliance across a broad range of therapeutic areas.

Icon’s service portfolio encompasses clinical trial management, data management and biostatistics, medical imaging, pharmacovigilance and safety monitoring, laboratory sciences and specialized analytical solutions.