Rockefeller Capital Management L.P. Boosts Stock Position in Incyte Co. (NASDAQ:INCY)

Rockefeller Capital Management L.P. lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 42.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,726 shares of the biopharmaceutical company’s stock after purchasing an additional 6,727 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Incyte were worth $1,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Pension Service raised its holdings in shares of Incyte by 4.7% during the fourth quarter. National Pension Service now owns 222,084 shares of the biopharmaceutical company’s stock valued at $18,526,000 after acquiring an additional 9,960 shares in the last quarter. Oak Ridge Investments LLC raised its holdings in shares of Incyte by 13.6% during the first quarter. Oak Ridge Investments LLC now owns 39,075 shares of the biopharmaceutical company’s stock valued at $3,361,000 after acquiring an additional 4,680 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Incyte by 46.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 231 shares in the last quarter. Norinchukin Bank The raised its holdings in shares of Incyte by 45.2% during the fourth quarter. Norinchukin Bank The now owns 32,950 shares of the biopharmaceutical company’s stock valued at $2,095,000 after acquiring an additional 10,256 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Incyte during the first quarter valued at approximately $260,000. 90.52% of the stock is owned by institutional investors.

Shares of Incyte stock traded up $0.24 during trading on Friday, hitting $84.96. 1,616,371 shares of the company’s stock traded hands, compared to its average volume of 1,359,740. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $57.00 and a 1 year high of $89.30. The stock has a market cap of $18.17 billion, a PE ratio of 103.61 and a beta of 1.20. The stock has a 50-day simple moving average of $80.66.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.29. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Incyte’s revenue was up 30.2% on a year-over-year basis. Research analysts expect that Incyte Co. will post 1.78 EPS for the current year.

In other news, EVP Paula J. Swain sold 2,500 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the transaction, the executive vice president now owns 39,013 shares of the company’s stock, valued at $3,121,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 8,357 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $87.96, for a total value of $735,081.72. The disclosure for this sale can be found here. In the last three months, insiders sold 20,857 shares of company stock worth $1,805,182. 17.10% of the stock is owned by corporate insiders.

A number of research firms have issued reports on INCY. BidaskClub upgraded Incyte from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Zacks Investment Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, April 29th. Credit Suisse Group began coverage on Incyte in a report on Monday, May 20th. They issued a “neutral” rating and a $75.00 price objective for the company. Stifel Nicolaus assumed coverage on Incyte in a report on Wednesday, April 10th. They issued a “hold” rating and a $82.00 price objective for the company. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Incyte in a research note on Monday, June 17th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Incyte currently has a consensus rating of “Buy” and a consensus target price of $88.00.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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