Icon (NASDAQ:ICLR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The brokerage presently has a $132.00 price target on the medical research company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 23.45% from the company’s previous close.
According to Zacks, “ICON plc is a global full service clinical research organisation. The company provides contract clinical research services to the pharmaceutical industry worldwide. “
Several other research analysts have also issued reports on ICLR. ValuEngine lowered shares of Icon from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Robert W. Baird reissued a “buy” rating and set a $123.00 target price on shares of Icon in a research note on Thursday, October 12th. SunTrust Banks reissued a “buy” rating and set a $138.00 target price on shares of Icon in a research note on Sunday, October 29th. KeyCorp restated an “overweight” rating and set a $125.00 price objective (up previously from $115.00) on shares of Icon in a report on Monday, November 13th. They noted that the move was a valuation call. Finally, Jefferies Group upped their price objective on shares of Icon from $122.00 to $132.00 and gave the stock a “buy” rating in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $124.55.
Shares of Icon (ICLR) opened at $106.93 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.90 and a quick ratio of 1.90. Icon has a 12 month low of $76.46 and a 12 month high of $124.48. The company has a market cap of $5,790.47, a price-to-earnings ratio of 20.52, a PEG ratio of 1.51 and a beta of 0.48.
Institutional investors and hedge funds have recently bought and sold shares of the stock. GRATRY & Co LLC grew its position in Icon by 5.1% during the third quarter. GRATRY & Co LLC now owns 30,144 shares of the medical research company’s stock valued at $3,433,000 after buying an additional 1,474 shares during the period. GSA Capital Partners LLP boosted its position in Icon by 116.3% during the second quarter. GSA Capital Partners LLP now owns 9,337 shares of the medical research company’s stock worth $913,000 after purchasing an additional 5,020 shares during the period. Insight Capital Research & Management Inc. bought a new position in Icon during the third quarter worth about $1,359,000. BT Investment Management Ltd bought a new position in Icon during the third quarter worth about $325,000. Finally, JPMorgan Chase & Co. boosted its position in Icon by 11.5% during the third quarter. JPMorgan Chase & Co. now owns 42,043 shares of the medical research company’s stock worth $4,697,000 after purchasing an additional 4,320 shares during the period. Institutional investors own 89.60% of the company’s stock.
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ICON public limited company is a contract research organization (CRO), which is engaged in providing outsourced development services to the pharmaceutical, biotechnology and medical device industries. The Company is engaged in the strategic development, management and analysis of programs that support the various stages of the clinical development process, from compound selection to Phase I-IV clinical studies.
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