Icon (NASDAQ:ICLR) Trading Up 9.5% – What’s Next?

Shares of Icon Plc (NASDAQ:ICLR) traded up 9.5% on Friday . The stock traded as high as $88.48 and last traded at $87.6620. Approximately 1,696,537 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 1,873,080 shares. The stock had previously closed at $80.08.

Icon News Roundup

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ICLR. TD Cowen reiterated a “hold” rating on shares of Icon in a research report on Thursday. BMO Capital Markets restated a “market perform” rating and issued a $100.00 target price on shares of Icon in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Icon in a report on Monday, December 29th. Mizuho set a $216.00 price target on shares of Icon in a report on Friday, January 9th. Finally, Truist Financial restated a “hold” rating and issued a $222.00 price objective (down previously from $231.00) on shares of Icon in a research report on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.40.

Icon Price Performance

The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.95 and a beta of 1.27. The company’s 50 day moving average is $175.93 and its 200 day moving average is $174.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.06 and a quick ratio of 1.06.

Institutional Trading of Icon

A number of institutional investors have recently bought and sold shares of ICLR. Artisan Partners Limited Partnership increased its position in shares of Icon by 67.4% in the second quarter. Artisan Partners Limited Partnership now owns 7,184,870 shares of the medical research company’s stock valued at $1,045,039,000 after buying an additional 2,893,946 shares in the last quarter. Wellington Management Group LLP increased its holdings in Icon by 26.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,637,137 shares of the medical research company’s stock valued at $811,499,000 after acquiring an additional 975,268 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Icon by 21.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,752,008 shares of the medical research company’s stock worth $545,730,000 after acquiring an additional 650,379 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Icon by 11.1% in the third quarter. Invesco Ltd. now owns 3,427,630 shares of the medical research company’s stock valued at $599,835,000 after purchasing an additional 341,637 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Icon by 739.2% in the third quarter. Principal Financial Group Inc. now owns 3,277,293 shares of the medical research company’s stock valued at $573,526,000 after purchasing an additional 2,886,755 shares during the last quarter. 95.61% of the stock is currently owned by hedge funds and other 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.