Citi analyst Patrick B Donnelly maintains $Icon PLC (ICLR.US)$ with a buy rating, and adjusts the target price from $360 to $290.
According to TipRanks data, the analyst has a success rate of 48.6% and a total average return of 2.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Icon PLC (ICLR.US)$'s main analysts recently are as follows:
Excluding specific forecasts, an analysis anticipates significant discussion points including the expected recovery's pace and scale in sectors like China and bioprocessing, the implementation of stimulus programs in China, trends in the instrumentation replacement cycle, overall biopharma sector health, and its potential effects on clinical trial demand, as well as the impacts from new governmental policies. The financial revisions for Icon considered the influence of reduced margins due to pass-through effects.
Icon stands as one of the foremost global contract research organizations, aiding biopharmaceutical companies in expediting their drug market introductions. Over recent months, its shares have encountered a 25% decline, attributed to various short-term factors impacting near-term earnings growth and investor outlook. However, the anticipated alleviation of these obstacles is expected to pave the way for a significant rebound in earnings and a reassessment of Icon's market valuation.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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