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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: Catalent Inc.
Symbol: CTLT
Price: Last Trade $40.79
Trade Date: 9/27
Shares: 6.1 million ($250m cash raise)
Underwriter(s) : Morgan Stanley, J.P. Morgan, RBC Capital, BofA Merrill Lynch
Description: They are the leading global provider of advanced delivery technologies and development solutions for drugs, biologics and consumer health products
Rating: Subscription Needed
Company: Kadmon Holdings Inc.
Symbol: KDMN
Price: Last Trade $3.79
Trade Date: 9/26
Re-Offer Range: Subscription Needed
Shares: 18.5 million ($70 million cash raise)
Underwriter(s) : Jefferies, Piper Jaffray
Description: Kadmon Holdings, Inc. is a fully integrated biopharmaceutical company focused on developing innovative products for significant unmet medical needs.
Rating = Subscription Needed
Company: Sabra Health Care REIT
Symbol: SBRA
Price: Last Trade $22.33
Trade Date: 9/26
Shares: 16 million
Re-Offer Range: Subscription Needed
Underwriter(s) : Barclays, Citigroup, BMO Capital Markets, SunTrust Robinson Humphrey, Credit Agricole CIB, MUFG, Raymond James, UBS Investment Bank, Morgan Stanley, Stifel
Description: They are a Maryland corporation, is a self-administered, self-managed real estate investment trust that, through its subsidiaries, owns and invests in real estate serving the healthcare industry.
Rating = Subscription Needed
Company: CoStar Group, Inc.
Symbol: CSGP
Price: Last Trade $279.20
Trade Date: 9/28
Shares: 2.7 million ($750 million cash raise)
Underwriter(s) : J.P. Morgan, Goldman Sachs & Co., Citigroup, BofA Merrill Lynch, SunTrust, Wells Fargo Securities
Description: CoStar Group, Inc. is an American commercial real estate information and marketing provider with headquarters in Washington, DC.
Rating = Subscription Needed
Company: Cloudera, Inc
Symbol: CLDR
Price: Last Trade $18.38
Trade Date: 9/28
Shares: 12 million
Underwriter(s) : Morgan Stanley, J.P. Morgan, Allen & Co., BofA Merrill Lynch, Citigroup, Deutsche Bank
Description: Cloudera, Inc. operates a data management, machine learning, and analytics software platform in the United States, Europe, and Asia.
Co-Manager(s): Stifel, JMP Securities, Raymond James
Rating = Subscription Needed
Company: TherapeuticsMD, Inc.-BLOCK
Symbol: TXMD
Price: Last Trade $6.07
Trade Date: 9/26
Shares: 12.4 million
Re-Offer Range: Subscription Needed
Underwriter(s) : J.P. Morgan
Description: TherapeuticsMD, Inc. is a women’s healthcare company engaged in creating and commercializing products for women
Rating = Subscription Needed