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12:00 AM
 | 
Jul 05, 2004
 |  BioCentury  |  Finance

In the ballpark… or not

In the ballpark… or not

3Q Financial Markets ReviewIn the ballpark… or notEvaluating the extent of IPO haircuts involves some guesswork, as companies are entering a market in which their fundamentals should be valued against comparable names. Although there are reasons why already public companies may be valued at a premium - portfolio managers may be more familiar with management, for example - over time one would expect comparable companies to have comparable valuations.To illustrate, BioCentury created peer groups for six IPOs from the recent window, and plotted their hoped...

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