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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: Amicus Therapeutics
Symbol: FOLD
Price: Last Trade $15.68
Trade Date: 2/16
Shares: 15.9 million ($250 million cash raise)
Underwriter(s): J.P. Morgan, Goldman Sachs, Cowen, Leerink
Co-Manager(s): BofA Merrill Lynch
Description: They are a global, patient-centric biotechnology company focused on discovering, developing and delivering novel high-quality medicines for people living with rare metabolic diseases.
Rating = Subscription Needed
Company: Avid Bioservices, Inc.
Symbol: CDMO
Price: Last Trade $3.25
Trade Date: 2/15
Shares: 8 million ($20 million cash raise)
Re-Offer Range: Subscription Needed
Underwriter(s): Wells Fargo
Description: They are a contract development and manufacturing organization (CDMO) focused on development and manufacturing of biopharmaceutical products derived from mammalian cell culture.
Rating = Subscription Needed
Company: Atkore International Group – Block
Symbol: ATKR
Price: Last Trade $21.85
Trade Date: 2/15
Shares: 6 million
Re-Offer Range:Subscription Needed
Underwriter(s): Morgan Stanley
Description: Atkore International Group Inc. is a leading manufacturer of Electrical Raceway products primarily for the non-residential construction and renovation markets and Mechanical Products & Solutions for the construction and industrial markets.
Rating = Subscription Needed