A pixel circuit and a display device including the same are disclosed. The pixel circuit of the present disclosure includes: a driving element including a first electrode connected to a first node to which a pixel driving voltage is applied, a gate electrode connected to a second node, and a second electrode connected to a third node; a first switch element configured to supply a data voltage of pixel data to a fourth node in response to a scan pulse; a second switch element configured to supply an initialization voltage to the second node in response to a first initialization pulse; a third switch element configured to supply a reference voltage lower than the initialization voltage to the third node in response to a sensing pulse; and a fourth switch element configured to supply the reference voltage to the fourth node in response to a second initialization pulse.