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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: PolarityTE, Inc.
Symbol: COOL
Price: Last Trade $27.82
Trade Date: 6/5
Re-offer Range: Subscription Needed
Shares: 1.0 million ($25 million cash raise)
Underwriter(s): Cantor Fitzgerald
Description: PolarityTE is a commercial-stage biotechnology and regenerative medicine company focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering and material sciences.
Rating = Subscription Needed
Company: Deciphera Pharmaceuticals, Inc.
Symbol: DCPH
Price: Last Trade $38.31
Trade Date: 6/8
Shares: 3.75 million
Underwriter(s): J.P. Morgan, Piper Jaffray
Description: They are a clinical-stage biopharmaceutical company developing new drugs to improve the lives of cancer patients by addressing key mechanisms of drug resistance that limit the rate and durability of response of many cancer therapies
Rating = Subscription Needed
Company: Altair Engineering, Inc.
Symbol: ALTR
Price: Last Trade $36.67
Trade Date: 6/7
Shares: 5.6 million
Underwriter(s): J.P. Morgan, RBC, Deutsche Bank
Co-Manager(s): Canaccord Genuity, William Blair, Needham & Co., Berenberg Capital
Description: They are a leading provider of enterprise-class engineering software enabling innovation across the entire product lifecycle from concept design to in-service operation.
Rating = Subscription Needed
Company: RISE Education Cayman Ltd.
Symbol: REDU
Price: Last Trade $16.01
Trade Date: 6/7
Shares: 7 million
Underwriter(s): Morgan Stanley
Description: They primarily operate in China’s junior English Language Training, or ELT, market, which refers to after-school English teaching and tutoring services provided by training institutions to students aged three to 18.
Rating = Subscription Needed
Company: Optinose
Symbol: OPTN
Price: Last Trade $22.73
Trade Date: 6/7
Shares: 4.5 million
Underwriter(s): Jefferies, Piper Jaffray, BMO, RBC
Co-Manager(s): Cantor
Description: They are a specialty pharmaceutical company focused on the development and commercialization of products for patients treated by ear, nose and throat, or ENT, and allergy specialists.
Rating = Subscription Needed