Cookson Peirce & Co. Inc. Buys 94,569 Shares of Incyte Corporation $INCY

Cookson Peirce & Co. Inc. raised its stake in Incyte Corporation (NASDAQ:INCY) by 834.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,900 shares of the biopharmaceutical company’s stock after buying an additional 94,569 shares during the period. Cookson Peirce & Co. Inc. owned about 0.05% of Incyte worth $10,460,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd bought a new stake in shares of Incyte in the 3rd quarter valued at about $18,085,000. Nordea Investment Management AB grew its position in shares of Incyte by 941.8% in the 4th quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company’s stock valued at $31,874,000 after buying an additional 291,293 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in shares of Incyte in the 4th quarter valued at about $1,213,000. Fairvoy Private Wealth LLC grew its holdings in Incyte by 468.8% during the 4th quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company’s stock worth $2,980,000 after acquiring an additional 24,865 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Incyte by 1,346.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock worth $48,446,000 after acquiring an additional 531,734 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

INCY stock opened at $102.38 on Friday. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $96.49 and a 200-day moving average price of $99.09. The firm has a market cap of $20.45 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Incyte Corporation has a 1-year low of $66.74 and a 1-year high of $112.29.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INCY. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Barclays reissued an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Incyte in a research report on Thursday, May 21st. Finally, Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $120.00 to $94.00 in a research report on Monday, March 16th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.00.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider directly owned 262,692 shares in the company, valued at $25,349,778. This trade represents a 6.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.

Incyte Company 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.