IPO Weekly Recap: Shake Shack and Spark Therapeutics Shine

This past week ten IPOs debuted, six updated terms and zero new deals filed.

Of the ten deals that came to market, two of them—Shake Shack (NYSE: SHAK) and Spark Therapeutics (Nasdaq: ONCE)—closed their opening day with more than a 100% premium above their respective offering prices. It was the first time two IPOs, who debuted on the same day, closed with more than a 100% gain on the same day of trading since July of 2000. Shake Shack priced ($21.00) above the already revised range, and opened at $47.00 for a 124% premium. ‘SHAK’ hit a high of 150% above the IPO price, $52.49, before closing its first day of trading at $45.90. Spark Therapeutics priced ($23.00) above the already revised range and opened at $45.10—a 96% boost above the offering price. ‘ONCE’ hit a first day high of $51.90 before closing its opening day of trading at $50.00—a 117% gainer for those who were allocated shares at the offering price. Five other deals this week returned double-digit percentage gains above their respective offering price upon opening. Ascendis Pharma (Nasdaq: ASND) opened $3.50 higher than the high-end $18.00 pricing for a respectful 19% gain. Entellus Medical (Nasdaq: ENTL) priced at the high end of the range, $17.00, and opened 13% higher with a $19.26 trade at first tick. ‘ENTL’ fared well in the aftermarket hitting a first week high of $22.63 or 33% above the IPO price. Flex Pharma (Nasdaq: FLKS) upsized its IPO and priced above the range at $16.00. ‘FLKS’ opened $3.00 above the IPO price—good for a 19% return—however, the deal traded very poorly in the aftermarket and closed the first week of trading at $14.74 or 8% below the IPO price. Zosano Pharma (Nasdaq: ZSAN) opened 11% above the $11.00 mid-range pricing but closed its first week of trading at $11.09. The lone REIT deal of the week, InfraREIT (NYSE: HIFR), priced $2.00 above the range at $23.00. ‘HIFR’ opened $4.10 above the IPO price good for an 18% return above the offering price.

Here is the IPO schedule for the upcoming week:

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