Underwriters that were on the syndicate of Four IPOs that debuted in February completed the mandatory 25-day period and are allowed to rate the stock they sold to their investors.
This included Beam Therapeutics (BEAM), Casper Sleep (CSPR), PPD Inc (PPD), Schrodinger Inc (SDGR).
Beam Therapeutics, Inc. (BEAM) priced 10.6mm shares (upsized from 9.25mm) at the high-end of the range, $17.00, and opened at $24.00 for a gain of 41.2% at first trade. BEAM closed Friday (3/2) at $22.49 or 32.3% above the IPO Price.
Our Rating Pre-IPO: 3
- Barclays: OUTPERFORM, $32PT
- Jefferies: BUY, $32PT
- Wedbush: OUTPERFORM, $32
Casper Sleep (CSPR) priced a full-size deal, 8.35mm shares, at $12.00 and opened at $14.50 for a gain of 20.8% at first trade. CSPR closed Friday (3/2) at $9.02 or -24.8 percent vs. the IPO Price.
Our Rating Pre-IPO: 2
- Morgan Stanley: EQUAL-WEIGHT, $12PT
- Piper Sandler: OVERWEIGHT, $15PT
- Citigroup: BUY, $12PT
- Goldman Sachs: BUY, $16PT
- Jefferies, BUY, $19PT
PPD Inc (PPD) priced a full-size deal, 60.0mm shares, at the high-end of the range, $27.00, and opened at $31.00 for a gain of 14.8% at first trade. PPD closed Friday (3/2) at $27.88 or 3.3% above the issue price
Our Rating Pre-IPO: 2
- Goldman Sachs, BUY, $34PT
- BofA Securities: BUY, $32PT
- Citigroup: BUY, $34PT
- Deutsche Bank: BUY, $33PT
- Evercore: OUTPERFORM, $33PT
- William Blair: OUTPERFORM
- Morgan Stanley: OVERWEIGHT, $34PT
- UBS: BUY, $34PT
- Jefferies: HOLD: $30.50
- JP Morgan: OVERWEIGHT, $35PT
- Baird; OUTPERFORM, $35PT
- Mizuho: BUY, $32PT
- Barclays: OVERWEIGHT: $33
- Credit Suisse: OUTPERFORM: $32
Schrodinger Inc. (SDGR) priced an up-sized 11.9mm shares at an above range price of $17.00 and opened at $26.00 for a gain of 52.9% at first trade. SDGR closed Friday (3/2) at $46.38 or 172.9% above above the issue price.
Our Rating Pre-IPO: 3
- Jefferies: Hold, $42PT
- Morgan Stanley: Equal-Weight, $43PT
- BMO Capital: Outperform: $65PT
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish