{"id":2612,"date":"2017-07-14T17:01:56","date_gmt":"2017-07-14T21:01:56","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=2612"},"modified":"2017-07-14T17:01:56","modified_gmt":"2017-07-14T21:01:56","slug":"weekly-secondary-performance-report-7-14-17","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/weekly-secondary-performance-report-7-14-17\/","title":{"rendered":"Weekly Secondary Performance Report (7.14.17)"},"content":{"rendered":"

You can Subscribe to IPO Boutique’s Secondary Only Service by clicking here<\/a>:<\/h4>\n
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This past week 13 secondary offerings came to market and IPO Boutique placed BUY ratings on 3 of them. In all, $1.7bn was raised by companies in the secondary market this week.<\/p>\n

The average gain of IPO Boutique BUY rated offerings this week at first trade was 2.7%<\/p>\n

The average gain of IPO Boutique Neutral rated offerings this week at first trade was -2.2%.<\/p>\n

\"Weekly<\/a><\/p>\n

The last 20 IPO Boutique \u2018BUY\u2019 rated secondary offerings have produced an average gain of 1.4% at first trade and an average gain of 5.59% at the high of their first-day of trading.<\/p>\n

This week saw the trend of biotech follow-on offerings outperforming the rest of the market. The five biotech offerings opened 1.9% higher (on average) at first trade and closed their first days of trading with a gain of 5.4% (on average). Among deals larger than $25m, the week\u2019s best performing offering was Alder Biopharmaceuticals (Nasdaq: ALDR)<\/strong> which opened 5.5% above the offering price and ultimately closed 19.5% higher. The deal, underwritten by Leerink and Wells Fargo, had mixed signals leading up to pricing as \u2018ALDR\u2019 traded poorly in its one-day of marketing (actually down 17%). Other deals that performed well this week included Shiloh Industries (Nasdaq: SHLO)<\/strong> and Arena Pharmaceuticals (Nasdaq: ARNA)<\/strong> which opened 4.2% and 2.7% above their offering prices, respectively. IPO Boutique placed BUY ratings on both of those offerings. The week\u2019s largest offering was a $610m block of Restaurant Brands International (NYSE: QSR)<\/strong> from Credit Suisse. The offering, which IPO Boutique placed a Neutral rating on, traded flat upon opening and for the day.<\/p>\n

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There are currently three secondary offerings on the schedule for next week.<\/p>\n