Icon (NASDAQ:ICLR) Upgraded to Outperform at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded Icon to "Outperform" and raised its price target to $130 from $100, implying about a 30.01% potential upside from the current price.
• Analyst views are mixed—individual targets range widely (e.g., Mizuho $216, Bank of America $75, Zacks "strong sell")—and the MarketBeat consensus remains a Hold with a $148.80 target.
• Icon opened at $99.99 with a market cap of $8.08 billion, a 12‑month range of $66.57–$211.00, and roughly 95.61% institutional ownership.

Icon (NASDAQ:ICLR - Get Free Report) was upgraded by investment analysts at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $130.00 price target on the medical research company's stock, up from their previous price target of $100.00. BMO Capital Markets' price target points to a potential upside of 30.01% from the company's current price.

ICLR has been the topic of several other reports. Mizuho set a $216.00 price target on shares of Icon in a research report on Friday, January 9th. Leerink Partners reissued a "market perform" rating and issued a $105.00 price objective on shares of Icon in a research report on Thursday, February 12th. Bank of America restated an "underperform" rating and set a $75.00 price objective on shares of Icon in a research note on Thursday, February 12th. Zacks Research cut shares of Icon from a "hold" rating to a "strong sell" rating in a report on Wednesday, February 25th. Finally, Robert W. Baird set a $119.00 price target on Icon in a research report on Friday, February 13th. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Icon has a consensus rating of "Hold" and a consensus target price of $148.80.

Icon Stock Performance

Shares of ICLR opened at $99.99 on Thursday. The stock has a market capitalization of $8.08 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.59 and a beta of 1.35. Icon has a 12 month low of $66.57 and a 12 month high of $211.00. The firm has a fifty day simple moving average of $129.58 and a 200 day simple moving average of $161.12. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Icon

A number of hedge funds have recently bought and sold shares of the business. Private Trust Co. NA increased its holdings in shares of Icon by 200.0% during the third quarter. Private Trust Co. NA now owns 141 shares of the medical research company's stock worth $25,000 after purchasing an additional 94 shares during the period. Toth Financial Advisory Corp bought a new stake in shares of Icon in the fourth quarter valued at approximately $27,000. EFG International AG bought a new stake in shares of Icon in the fourth quarter valued at approximately $27,000. Ameriflex Group Inc. acquired a new stake in Icon during the third quarter worth approximately $33,000. Finally, Abound Financial LLC bought a new position in Icon during the 4th quarter worth $54,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.