{"id":11864,"date":"2020-03-02T12:13:33","date_gmt":"2020-03-02T17:13:33","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=11864"},"modified":"2020-03-02T16:49:05","modified_gmt":"2020-03-02T21:49:05","slug":"analyst-initiation-beam-therapeutics-beam-casper-sleep-cspr-ppd-inc-ppd-schrodinger-inc-sdgr","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/analyst-initiation-beam-therapeutics-beam-casper-sleep-cspr-ppd-inc-ppd-schrodinger-inc-sdgr\/","title":{"rendered":"ANALYST INITIATION: Beam Therapeutics (BEAM), Casper Sleep (CSPR), PPD Inc (PPD), Schrodinger Inc (SDGR)"},"content":{"rendered":"<p>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.<\/p>\n<p><span style=\"font-size: 1rem;\">This included <strong>Beam Therapeutics (BEAM), Casper Sleep (CSPR), PPD Inc (PPD), Schrodinger Inc (SDGR).<\/strong><\/span><!--more--><\/p>\n<hr \/>\n<p><strong>Beam Therapeutics, Inc. (BEAM)<\/strong>\u00a0priced 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.<\/p>\n<p>Our Rating Pre-IPO:\u00a0<strong>3<\/strong><\/p>\n<ul>\n<li>Barclays: OUTPERFORM, $32PT<\/li>\n<li>Jefferies: BUY, $32PT<\/li>\n<li>Wedbush: OUTPERFORM, $32<\/li>\n<\/ul>\n<p><span style=\"font-size: 1rem;\"><strong>Casper Sleep (CSPR)\u00a0<\/strong>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 \u00a0$9.02 or -24.8 percent vs. the IPO Price.<\/span><\/p>\n<p>Our Rating Pre-IPO: <b>2<\/b><\/p>\n<ul>\n<li>Morgan Stanley: EQUAL-WEIGHT, $12PT<\/li>\n<li>Piper Sandler: OVERWEIGHT, $15PT<\/li>\n<li>Citigroup: BUY, $12PT<\/li>\n<li>Goldman Sachs: BUY, $16PT<\/li>\n<li>Jefferies, BUY, $19PT<\/li>\n<\/ul>\n<p><span style=\"font-size: 1rem;\"><strong>PPD Inc\u00a0(PPD)<\/strong>\u00a0priced 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<\/span><\/p>\n<p>Our Rating Pre-IPO: <b>2<\/b><\/p>\n<ul>\n<li>Goldman Sachs, BUY, $34PT<\/li>\n<li>BofA Securities: BUY, $32PT<\/li>\n<li>Citigroup: BUY, $34PT<\/li>\n<li>Deutsche Bank: BUY, $33PT<\/li>\n<li>Evercore: OUTPERFORM, $33PT<\/li>\n<li>William Blair: OUTPERFORM<\/li>\n<li>Morgan Stanley: OVERWEIGHT, $34PT<\/li>\n<li>UBS: BUY, $34PT<\/li>\n<li>Jefferies: HOLD: $30.50<\/li>\n<li>JP Morgan: OVERWEIGHT, $35PT<\/li>\n<li>Baird; OUTPERFORM, $35PT<\/li>\n<li>Mizuho: BUY, $32PT<\/li>\n<li>Barclays: OVERWEIGHT: $33<\/li>\n<li>Credit Suisse: OUTPERFORM: $32<\/li>\n<\/ul>\n<p><strong>Schrodinger Inc. (SDGR)<\/strong> 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.<\/p>\n<p>Our Rating Pre-IPO:\u00a0<strong>3<\/strong><\/p>\n<ul>\n<li>Jefferies: Hold, $42PT<\/li>\n<li>Morgan Stanley: Equal-Weight, $43PT<\/li>\n<li>BMO Capital: Outperform: $65PT<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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).<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24,1536],"tags":[],"class_list":["post-11864","post","type-post","status-publish","format-standard","hentry","category-ipo","category-subscriber-content"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/11864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=11864"}],"version-history":[{"count":2,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/11864\/revisions"}],"predecessor-version":[{"id":11879,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/11864\/revisions\/11879"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=11864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=11864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=11864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}