{"id":9040,"date":"2019-07-08T14:09:06","date_gmt":"2019-07-08T18:09:06","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=9040"},"modified":"2019-07-08T15:35:27","modified_gmt":"2019-07-08T19:35:27","slug":"ipo-boutique-brief-five-launches-analyst-initiations-and-looking-back-at-the-losers","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/ipo-boutique-brief-five-launches-analyst-initiations-and-looking-back-at-the-losers\/","title":{"rendered":"IPO Boutique Brief: Five Launches, Analyst Initiations and &#8220;Looking back at the Losers&#8221;"},"content":{"rendered":"<p>This is an IPO Boutique Brief discussing the day&#8217;s syndicate news, information and events.<\/p>\n<p><!--more--><\/p>\n<p>Interested in having pre-IPO color, commentary and ratings? <a href=\"http:\/\/www.ipoboutique.com\/images\/IPOBoutiqueExplainer2017.pdf\"><strong>Here&#8217;s a sample of the information we provide<\/strong><\/a>.<\/p>\n<hr \/>\n<h2><strong>FIVE IPO LAUNCHES: <\/strong><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"irc_mi\" src=\"https:\/\/media1.tenor.com\/images\/e6383abfb3857564c6a5a15d0a78517d\/tenor.gif?itemid=5372051\" alt=\"Image result for we have lift off gi9f\" width=\"498\" height=\"278\" data-iml=\"1562606419977\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>It was highly anticipated that IPOs would &#8220;launch&#8221; this morning and begin a roadshow and<del> four<\/del> five companies did just that. The largest being <a href=\"https:\/\/www.ipoboutique.com\/cgi\/info\/Medallia-MDLA\"><strong>Medallia Inc (MDLA)<\/strong><\/a>, a\u00a0<span style=\"font-weight: 400;\">enterprise software, experience management company, who will be looking to raise up to $261m with a valuation in the $1.95bn-$2.2bn area based on the $16-$18 range.\u00a0<\/span><\/p>\n<p>The other four companies to set terms were <strong><a href=\"https:\/\/www.ipoboutique.com\/cgi\/info\/Phreesia-PHR\">Phreesia, Inc.<\/a>, <a href=\"https:\/\/www.ipoboutique.com\/cgi\/info\/FulcrumTherapeutics-FULC\">Fulcrum Therapeutics, Inc.\u00a0<\/a><\/strong>and\u00a0<strong><a href=\"https:\/\/www.ipoboutique.com\/cgi\/info\/MirumPharma-MIRM\">Mirum Pharmaceuticals<\/a><\/strong><a href=\"https:\/\/www.ipoboutique.com\/cgi\/info\/MirumPharma-MIRM\">.<\/a>, and<a href=\"http:\/\/www.ipoboutique.com\/cgi\/info\/OwlRock-OWCC-info.php\"><strong> Owl Rock Capital Corporation<\/strong><\/a>.<\/p>\n<p>It is possible that additional companies launch their IPOs to fill the IPO calendar for the Week of July 15th.<\/p>\n<hr \/>\n<h2><strong>BULLS ON CROWDSTRIKE<\/strong><\/h2>\n<p><a href=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2019\/06\/Screen-Shot-2019-06-10-at-9.16.11-AM.png\"><img decoding=\"async\" class=\"alignnone size-full wp-image-8560\" src=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2019\/06\/Screen-Shot-2019-06-10-at-9.16.11-AM.png\" alt=\"\" width=\"231\" height=\"130\" \/><\/a><\/p>\n<p><strong>CrowdStrike Holdings (CRWD)<\/strong> was one of three recent IPOs to receive analyst \u00a0initiations this morning (<strong>Mohawk Group<\/strong> and <strong>Fiverr International<\/strong> were the others). CrowdStrike&#8217;s 86.8% gain at first trade was the second largest premium at the opening print of the 2019 year for IPOs (Adaptive Biotechnologies opened +95.1% &amp; Beyond Meat comes in third at 84.0%). With the stock trading at more than double the $34.00 issue price, the analysts calls were expected to be bullish and they did not disappoint. Here were a few of the calls:<\/p>\n<ul>\n<li>JP Morgan, $100<\/li>\n<li>Oppenheimer, $90<\/li>\n<li>Stifel &amp; Mizuho, $80<\/li>\n<li>BofA Merrill Lynch, $75<\/li>\n<li>RBC, Credit Suisse, $70<\/li>\n<li>SunTrust Robinson Humphrey, $69<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.cnbc.com\/2019\/07\/08\/here-are-mondays-biggest-stock-analyst-calls-of-the-day.html\"><strong>VIA CNBC.Com<\/strong><\/a> &#8212; BofA Merrill Lynch and its analyst placed this note on CRWD<\/p>\n<p>\u201c<a class=\"\" tabindex=\"\" title=\"\" role=\"\" href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=CRWD\" target=\"\" rel=\"\" data-type=\"\" aria-label=\"\">CrowdStrike<\/a> is positioned well to disrupt the $7bn endpoint security market and expand from core detection and response capabilities to adjacent areas such as IT hygiene, vulnerability management, and more. \u201d<\/p>\n<p>Tuesday&#8217;s notable analyst initiation:\u00a0<strong>Chewy Inc (CHWY).<\/strong><\/p>\n<hr \/>\n<h2><strong>TREES ALL DON&#8217;T GROW TO THE SKY<\/strong><\/h2>\n<p><img decoding=\"async\" class=\"irc_mi\" src=\"https:\/\/media.giphy.com\/media\/A8edOqTljm1i\/giphy.gif\" alt=\"Image result for money tree gif\" width=\"500\" height=\"500\" data-iml=\"1562608396502\" \/><\/p>\n<p>The 2nd Quarter was an incredible quarter for IPOs. Read our <a href=\"https:\/\/www.ipoboutique.com\/blog\/2q-2019-ipo-review-outsized-aftermarket-gains\/\"><strong>entire 2Q 2019 review right here<\/strong><\/a>. But the gist of it&#8230; 60 IPOs debuted to an average of 22.8% above its issue price. Those same 60 IPOs are now 34.8% above their issue price (on average).<\/p>\n<p>But that doesn&#8217;t mean its a\u00a0<em>green light to blindly by IPOs.\u00a0<\/em>After all, Beyond Meat heavily skews this as its currently +525% versus its issue price.<\/p>\n<p>One stat that should have you reconsider. A total of 21 of the 60 IPOs are trading below their initial offering price.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>The five worst IPOs YTD:\u00a0<\/strong><\/span><\/p>\n<ol>\n<li>Ruhnn Holdings (RUHN), -72%<\/li>\n<li>Axcella Health (AXLA), -55%<\/li>\n<li>GreenLane Holdings (GNLN), -53%<\/li>\n<li>HOOKIPA Pharma (HOOK), -51%<\/li>\n<li>Bicycle Therapeutics (BCYC) &#8211; 35%<br \/>\n<hr \/>\n<\/li>\n<\/ol>\n<p><strong>IPO BOUTIQUE for your Syndicate Needs!<\/strong><\/p>\n<div>\n<div>What if you could take the guess work out of trading the syndicate calendar? Or what if you indicated for deals with the knowledge that large institutional funds are also in the deal.<\/div>\n<div><\/div>\n<div>IPO Boutique\u2019s vast network of underwriter contacts and sources can do just that! On the IPO side, it means research &amp; daily color in conjunction with 45 years of IPO experience. For secondaries, our highest-level of client receives Real-Time Alerts on all offerings, re-offer ranges, ratings and color for any deal that is marketed more than an overnight.<\/div>\n<div><\/div>\n<div>If you indicate for IPOs or Secondary Offerings on a regular basis \u2014 place IPO Boutique on your team. <strong><a href=\"https:\/\/www.ipoboutique.com\/Subscribe.html\" target=\"_blank\" rel=\"noopener\">Subscribe Today!<\/a><\/strong><\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is an IPO Boutique Brief discussing the day&#8217;s syndicate news, information and events.<\/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],"tags":[],"class_list":["post-9040","post","type-post","status-publish","format-standard","hentry","category-ipo"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/9040","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=9040"}],"version-history":[{"count":3,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/9040\/revisions"}],"predecessor-version":[{"id":9043,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/9040\/revisions\/9043"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=9040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=9040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=9040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}