Bank of America Reiterates “Underperform” Rating for Icon (NASDAQ:ICLR)

Icon (NASDAQ:ICLR)‘s stock had its “underperform” rating restated by analysts at Bank of America in a report issued on Thursday, Marketbeat.com reports. They currently have a $75.00 target price on the medical research company’s stock. Bank of America‘s price objective would indicate a potential downside of 19.35% from the company’s current price.

A number of other brokerages have also issued reports on ICLR. TD Cowen raised their price target on Icon from $172.00 to $183.00 and gave the stock a “hold” rating in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Icon in a research report on Monday, December 29th. Barclays boosted their target price on shares of Icon from $185.00 to $200.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Leerink Partners reaffirmed a “market perform” rating and issued a $105.00 price target on shares of Icon in a research note on Thursday. Finally, Truist Financial reissued a “hold” rating and issued a $222.00 price objective (down from $231.00) on shares of Icon in a research report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.40.

Icon Stock Performance

Icon stock opened at $93.00 on Thursday. 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 has a market capitalization of $7.51 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.68 and a beta of 1.27. Icon has a 1-year low of $66.57 and a 1-year high of $211.00. The company’s 50-day moving average is $175.93 and its 200 day moving average is $174.94.

Institutional Trading of Icon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC raised its position in shares of Icon by 1.1% in the 4th quarter. Sanctuary Advisors LLC now owns 4,932 shares of the medical research company’s stock worth $899,000 after acquiring an additional 56 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Icon by 11.5% in the second quarter. Geneos Wealth Management Inc. now owns 541 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 56 shares during the last quarter. Spire Wealth Management raised its holdings in Icon by 10.1% in the third quarter. Spire Wealth Management now owns 678 shares of the medical research company’s stock worth $119,000 after purchasing an additional 62 shares in the last quarter. New Wave Wealth Advisors LLC lifted its position in shares of Icon by 5.1% during the fourth quarter. New Wave Wealth Advisors LLC now owns 1,479 shares of the medical research company’s stock valued at $270,000 after buying an additional 72 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Icon by 12.6% in the 4th quarter. Signaturefd LLC now owns 643 shares of the medical research company’s stock valued at $117,000 after buying an additional 72 shares in the last quarter. Institutional investors own 95.61% of the company’s stock.

Key Stories Impacting Icon

Here are the key news stories impacting Icon this week:

• Positive Sentiment: Some analyst support remains — Leerink Partners reaffirmed a “market perform” rating and a $105 price target, providing a floor for some investors. Leerink note
• Neutral Sentiment: ICON issued a timing update saying it is delaying release of Q4 and full‑year 2025 earnings while the internal investigation continues — the announcement is procedural but keeps uncertainty elevated until results are filed. Company update
• Negative Sentiment: Multiple law firms have opened securities‑fraud investigations and are soliciting shareholders after ICON disclosed possible revenue‑recognition issues; that legal overhang amplifies downside risk and potential remediation costs. Glancy announcement
• Negative Sentiment: Market reaction has already been severe: the initial accounting‑probe disclosure produced a large intraday share collapse and prompted additional plaintiff firms (Hagens Berman, Rosen, Block & Leviton, Frank R. Cruz, Ademi, Holzer & Holzer, Johnson Fistel, etc.) to launch or publicize investigations, increasing litigation risk and potential settlement exposure. Hagens Berman note
• Negative Sentiment: ICON pulled its 2025 outlook amid the probe and signaled potential revenue‑recognition restatements, which elevates execution risk and clouds near‑term earnings visibility — a key reason analysts and investors moved to cut exposure. Seeking Alpha

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.