{"id":2333,"date":"2017-06-13T10:10:53","date_gmt":"2017-06-13T14:10:53","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=2333"},"modified":"2017-06-13T10:12:19","modified_gmt":"2017-06-13T14:12:19","slug":"may-2017-ipo-boutique-track-record-recap","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/may-2017-ipo-boutique-track-record-recap\/","title":{"rendered":"May 2017 IPO Boutique Track Record Recap"},"content":{"rendered":"
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May 2017 IPO Recap: Price sensitivity playing a factor<\/p>\n

\u25cf 17IPOsinMay
\n\u25cf $3.46bnraisedinMay
\n\u25cf 5.3%–Average Gain in\u00a0May at 1stTrade<\/p>\n

\u25cf 5HealthcareDeals
\n\u25cf 59IPOsYTD — 111% ahead of 2016<\/p>\n<\/div>\n


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May was the second most active month year-to-date for the IPO Market as 17 companies went public for a total cash raise of $3.46bn. This included two deals that each raised greater than $800m — \u200bAntero Midstream GP (NYSE: AMGP)\u200b and \u200bGardner Denver Holdings (NYSE: GDI)\u200b.<\/p>\n

Price sensitivity played a major role in the month of May with six deals being priced below range and only two pricing above range. Of the six deals that priced below range, four opened 6% or greater above the offering price. The average gain at first trade for the month of May was 5.3% above the offering price — a decline from the 10.8% average gain above the offering price at first trade that was posted in April. May\u2019s best deals were Appian Corporation, Biohaven Pharmaceutical (NYSE: BHVN) \u200band \u200bGuaranty Bancshares (NASDAQ: GNTY)\u200b with gains of 25.0%, 17.6% and 11.1%, respectively, at first trade. Healthcare related deals made a \u2018comeback\u2019 in May as five of these sector-specific deals priced compared to just two healthcare deals pricing during the months of February, March and April combined.<\/p>\n

Compared to 2016, the IPO market is well-ahead of last year\u2019s pace. There have been 59 deals that have come to the market in 2017 versus 28 that came to market over this same period in 2016.<\/p>\n

This recap will allow us to post our results and emphasize the value of IPO Boutique’s senior managing partner Scott Sweet\u2019s ratings. You can check out our entire track record at this link.<\/p>\n

Five-Rating<\/strong><\/p>\n

We consider these IPOs to be the best of the best. In our nine years of keeping a track-record we have given just 14 \u2018five-ratings\u2019 and all 14 have hit their respective targets. However, in May 2017, we did not give a \u2018five\u2019 rating.<\/p>\n

Four-Rating<\/strong><\/p>\n

We consider these IPOs to be very strong buys and we anticipate 1-to-2 points of premium or higher in the first week of trading. However, in May 2017, we did not give a \u2018four\u2019 rating.<\/p>\n

Three-Rating<\/strong><\/p>\n

We consider these IPOs to be moderate buys and we anticipate 1\/2 to 1 point premium or more likely in the cases of these new issues. This past month seven deals debuted that we rated as a \u2018three\u2019 with an average return of 6.9% above the offering price. The best \u20183\u2019 rated deal this month were \u200bAppian Corporation (Nasdaq: APPN) \u200band \u200bBiohaven Pharmaceutical (NYSE: BHVN)\u200b which each opened $3.00 above their respective offering price. We have given 29 IPOs in 2017 a \u20183\u2019 rating and those have produced, on average, a premium of $1.08 above the offering price at first trade.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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IPOBoutique.Com<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Two-Rating<\/strong><\/p>\n

We consider these IPOs to be \u201cneutral\u201d and thus do not have a particular point threshold to hit in order for us to deem it as \u2018hitting its target\u2019. We gave ten deals a \u2018two-rating\u2019 this past month and these deals had an average return of 4.17% above the offering price at first trade. So far in 2017 we have given a total of 21 IPOs a \u20182\u2019 rating and those 21 have produced, on average, just a $0.38 return above the offering price at first trade.<\/p>\n

One-Rating<\/p>\n

We advise our subscribers to avoid these IPOs as we consider them to be risky. In our nine years of keeping a track-record we have given just 49 \u2018one\u2019 ratings. In May, we did not give a \u2018one\u2019 rating.<\/p>\n

IPOBoutique.com\u200b provides comprehensive research, ratings and daily advisories on new issues hitting the IPO market. To subscribe to IPO Boutique\u2019s service: \u200bclick here\u200b.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

May 2017 IPO Recap: Price sensitivity playing a factor \u25cf 17IPOsinMay \u25cf $3.46bnraisedinMay \u25cf 5.3%–Average Gain in\u00a0May at 1stTrade \u25cf 5HealthcareDeals \u25cf 59IPOsYTD — 111% ahead of 2016 May was the second most active month year-to-date for the IPO Market as 17 companies went public for a total cash raise of $3.46bn. This included two[…]<\/p>\n","protected":false},"author":2,"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":[165],"tags":[],"class_list":["post-2333","post","type-post","status-publish","format-standard","hentry","category-monthly-recap"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2333","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=2333"}],"version-history":[{"count":3,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2333\/revisions"}],"predecessor-version":[{"id":2337,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2333\/revisions\/2337"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=2333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=2333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=2333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}