Cookson Peirce & Co. Inc. Has $10.46 Million Stock Holdings in Incyte Corporation $INCY

Cookson Peirce & Co. Inc. increased its position in Incyte Corporation (NASDAQ:INCY) by 834.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 105,900 shares of the biopharmaceutical company’s stock after purchasing an additional 94,569 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Incyte were worth $10,460,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. 111 Capital acquired a new position in Incyte during the 4th quarter valued at about $207,000. Vestcor Inc boosted its stake in Incyte by 9.2% during the 4th quarter. Vestcor Inc now owns 127,557 shares of the biopharmaceutical company’s stock valued at $12,599,000 after purchasing an additional 10,711 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Incyte by 1,265.2% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 154,209 shares of the biopharmaceutical company’s stock valued at $15,231,000 after purchasing an additional 142,913 shares during the last quarter. Pinebridge Investments LLC acquired a new position in Incyte during the 4th quarter valued at about $10,001,000. Finally, Parallel Advisors LLC boosted its stake in Incyte by 5.5% during the 4th quarter. Parallel Advisors LLC now owns 5,020 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 263 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on INCY. UBS Group cut their price target on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Jefferies Financial Group downgraded Incyte from a “buy” rating to a “hold” rating and cut their price target for the company from $120.00 to $94.00 in a research note on Monday, March 16th. Barclays reiterated an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Incyte in a research note on Thursday, May 21st. Finally, Wall Street Zen downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $104.00.

Incyte Stock Performance

Shares of INCY stock opened at $102.38 on Friday. The firm has a market cap of $20.45 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. Incyte Corporation has a 52 week low of $66.74 and a 52 week high of $112.29. The firm’s 50-day simple moving average is $96.49 and its two-hundred day simple moving average is $99.09.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts forecast that Incyte Corporation will post 6.65 earnings per share for the current year.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.