JPMorgan Chase & Co. Issues Pessimistic Forecast for Icon (NASDAQ:ICLR) Stock Price

Icon (NASDAQ:ICLR) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $175.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.67% from the stock’s current price.

A number of other brokerages have also recently commented on ICLR. TD Cowen upgraded Icon from a “hold” rating to a “buy” rating and dropped their target price for the stock from $183.00 to $120.00 in a report on Wednesday, February 18th. BMO Capital Markets upgraded Icon from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $130.00 in a report on Thursday, March 26th. Jefferies Financial Group set a $135.00 price target on Icon and gave the stock a “buy” rating in a research note on Monday, February 23rd. Rothschild & Co Redburn set a $100.00 price target on Icon and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Finally, Zacks Research lowered Icon from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $145.67.

Icon Trading Up 0.4%

Shares of Icon stock traded up $0.51 on Monday, reaching $116.89. The company had a trading volume of 62,197 shares, compared to its average volume of 1,621,199. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 3.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06. The firm’s 50-day moving average price is $109.72 and its two-hundred day moving average price is $144.56. Icon has a 1 year low of $66.57 and a 1 year high of $211.00.

Institutional Investors Weigh In On Icon

Institutional investors and hedge funds have recently bought and sold shares of the company. Muhlenkamp & Co. Inc. bought a new stake in Icon during the 3rd quarter valued at $12,857,000. Mitchell Capital Management Co. bought a new stake in Icon during the 3rd quarter valued at $1,627,000. First National Bank of Omaha bought a new stake in Icon during the 3rd quarter valued at $6,267,000. Allspring Global Investments Holdings LLC raised its position in Icon by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,080,192 shares of the medical research company’s stock valued at $203,800,000 after purchasing an additional 11,335 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Icon during the 3rd quarter valued at $39,074,000. 95.61% of the stock is owned by institutional investors.

About Icon

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.