Maxim raises price target to $23?, page-8

Maybe this rating helps to explain why Maxim's recent biotech IPO's don't seem to be as successful as other biotech IPO's?

The Regenxbio IPO, which is happening in the US overnight, should be a good indicator of what the market really thinks. If they can raise $121M with the Greek economic problems, the China currency problems and whatever other reasons that were given for Benitec's IPO performance, then we will know that we partnered with the wrong crowd. If Regenxbio falls well short of the $121M, then this would add credibility to the arguments made in Peter's BRR radio Q&A about the IPO.