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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period.
Company: Fusion
Symbol: FSNN
Price: Last Trade $3.59
Trade Date: 2/1
Shares: 8.4 million ($30m cash raise)
Underwriter(s): Craig Hallum
Co-Manager: B.Riley FBR
Description: They are a leading provider of cloud services.
Rating = Subscription Needed
Company: Amarin Corporation plc
Symbol: AMRN
Price: Last Trade $4.01
Trade Date: 1/30
Shares: 17.5 million ($70m cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s): Cantor Fitzgerald & Co.
Description: They are a biopharmaceutical company focused on the commercialization and development of therapeutics to improve cardiovascular health.
Rating = Subscription Needed
Company: Ultra Clean Holdings, Inc.
Symbol: UCTT
Price: Last Trade $23.04
Trade Date: 1/31
Shares: 4.4 million ($100m cash raise)
Underwriter(s): Needham & Co., Cowen
Co-Manager(s): Craig Hallum
Description: They are a leading developer and supplier of critical systems and subsystems for the semiconductor capital equipment, flat panel, medical, energy and research industries.
Rating = Subscription Needed
Company: Sun Hydraulics Corporation
Symbol: SNHY
Price: Last Trade $69.19
Trade Date: 2/2
Shares: 4 million
Underwriter(s): Morgan Stanley
Co-Manager(s): KeyBanc Capital, Oppenheimer & Co., Stifel, SunTrust Robinson Humphrey, William Blair
Description: Sun Hydraulics Corporation is an industrial technology leader that develops and manufactures solutions for both the hydraulics and electronics markets.
Rating = Subscription Needed
Company: Clementia Pharmaceuticals – Block
Symbol: CMTA
Price: Last Trade $18.21
Trade Date: 1/30
Shares: 0.78 million
Re-Offer Range: Subscription Needed
Underwriter(s): Morgan Stanley
Description:Clementia Pharmaceuticals Inc., a clinical stage biopharmaceutical company, develops disease-modifying treatments for patients suffering from debilitating bone and other diseases.
Rating = Subscription Needed
Company: SandRidge Energy, Inc. – Block
Symbol: SD
Price: Last Trade $19.55
Trade Date: 1/30
Shares: 1.9 million
Re-Offer Range: Subscription Needed
Underwriter(s): Morgan Stanley
Description: They are an oil and natural gas company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and Rockies regions of the United States.
Rating = Subscription Needed
Company: CymaBay Therapeutics, Inc.
Symbol: CBAY
Price: Last Trade $11.29
Trade Date: 1/30
Shares: 9.2 million ($100 million cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s): Leerink, Evercore ISI
Description: They are a clinical-stage biopharmaceutical company focused on developing therapies for liver and other chronic diseases with high unmet medical need.
Rating = Subscription Needed