ICON Public (NASDAQ:ICLR) Price Target Cut to $265.00 by Analysts at JPMorgan Chase & Co.

ICON Public (NASDAQ:ICLR) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $280.00 to $265.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 34.91% from the stock’s current price.

ICLR has been the topic of several other reports. Citigroup lowered their price objective on ICON Public from $300.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. William Blair restated an “outperform” rating on shares of ICON Public in a research report on Tuesday, January 14th. Barclays lowered their price objective on shares of ICON Public from $330.00 to $275.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Baird R W cut shares of ICON Public from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Evercore ISI dropped their target price on ICON Public from $360.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $285.75.

ICON Public Stock Performance

Shares of NASDAQ:ICLR traded down $2.66 during midday trading on Monday, hitting $196.43. The company had a trading volume of 372,740 shares, compared to its average volume of 939,940. The company has a market cap of $16.21 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. The company has a fifty day moving average of $209.33 and a two-hundred day moving average of $258.43. ICON Public has a 12-month low of $183.38 and a 12-month high of $347.72.

Hedge Funds Weigh In On ICON Public

Institutional investors and hedge funds have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS grew its stake in ICON Public by 40.6% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 97,102 shares of the medical research company’s stock valued at $20,363,000 after acquiring an additional 28,050 shares during the period. Foyston Gordon & Payne Inc acquired a new stake in ICON Public in the 3rd quarter worth about $11,672,000. Icon Wealth Advisors LLC increased its stake in ICON Public by 861.1% during the 3rd quarter. Icon Wealth Advisors LLC now owns 13,215 shares of the medical research company’s stock worth $3,797,000 after buying an additional 11,840 shares in the last quarter. Entropy Technologies LP boosted its stake in shares of ICON Public by 472.2% in the fourth quarter. Entropy Technologies LP now owns 6,174 shares of the medical research company’s stock worth $1,295,000 after acquiring an additional 5,095 shares during the last quarter. Finally, Whittier Trust Co. raised its stake in ICON Public by 12.3% in the 3rd quarter. Whittier Trust Co. now owns 4,020 shares of the medical research company’s stock valued at $1,155,000 after purchasing an additional 441 shares during the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

About ICON Public

ICON Public Limited Company, a clinical research organization, provides outsourced development and commercialization services in Ireland, rest of Europe, the United States, and internationally. The company specializes in the strategic development, management, and analysis of programs that support various stages of the clinical development process from compound selection to Phase I-IV clinical studies.