Week ahead: 6 IPOs planned for the week of June 8

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Fast casual chicken wing chain Wingstop leads the six deals on this week's IPO calendar . After three weeks without a biotech, we'll see one with a proposed valuation of $1.4 billion. The four other IPOs each have a market cap under $250 million, and include a regional bank, biotech, medical device company and solar asset operator.

Next stop: Wingstop

Wingstop ( WING ) could see its stock fly, based on the initial returns of recent restaurant IPOs. Fast-growing retailer DAVIDsTEA ( DTEA ) also had a breakout performance last week, up 42% after pricing above the range. Wingstop primarily franchises its locations, and in 2014 its store count grew 19% to 745. It has also demonstrated strong comp store sales growth, achieving 11% in the 1Q15. PE backer Roark Capital is selling 63% of the deal, so Wingstop's debt will only be reduced to $113 million, or 4.5x LTM adj. EBITDA.

Year's 5th billion-dollar biotech set to go public

Axovant ( AXON ) was formed in October 2014 to develop an Alzheimer's therapy it acquired from GlaxoSmithKline for $5 million upfront plus future milestones and royalties. It could be the fifth biotech of 2015 to command a $1+ billion valuation on the IPO; just 2 of last year's 71 biotechs were that large (JUNO and FGEN), and both came in the 4Q14. The Alzheimer's market is huge but crowded, as biotechs like Lundbeck, Pfizer and Biotie have similar drugs in development. A major selling point may be the indications from Visium and RA Capital to invest $150 million on the offering (60% of the deal). Biotie Therapies (BITI), which is currently listed on the Finnish Stock Exchange under the symbol BTH1V, plans to raise $50 million in its US offering. Backed by Versant Ventures, Biotie is developing Parkinson's disease therapies based on IP it acquired from Roche-affiliated biotech Synosia Therapeutics in 2011. Insiders plan to invest $25 million (50% of the deal) on the offering.

Life light

Backed by Wellington Management, Invuity (IVTY) sells reusable illumination devices and single-use modifications for improving surgeons' visibility during open procedures. Revenue doubled to $4.4 million in the first quarter and its customer base expanded to about 400 hospitals. Last week's enhanced medical device maker, EndoChoice (GI), priced at the low end of the range and traded up 13% by Friday.

PUB to go public

People's Utah Bancorp (PUB) is set to be the only publicly-traded pure-play Utah bank. It is smaller than peers and its loans are concentrated in the Utah commercial real estate market, but People's Utah has a track record for growing assets and improving its efficiency ratio. Existing owners plan to float 9% of the IPO. Its planned dividend offers a 1.7% annual yield.

Backed by oil billionaire Ray Hunt, Principal Solar (PSWW) plans to uplist from the OTC Pink market and put the proceeds toward acquiring two solar energy projects in North Carolina.

IPO pipeline update: Two new filings

Several companies filed terms last week, most notably fitness device maker Fitbit (FIT), which could raise $450 million next week. Last year's high-growth consumer electronics IPO, GoPro (GPRO), trades nearly 150% above its offer price, down 6% year-to-date but up 50% in the past 90 days. Wellness software provider Mindbody (MB) and chemicals distributor Univar (UNVR) set terms on Monday morning. Ten years after its buyout and two major divestitures later, SunGard (SDS.RC) appears ready to return to public markets with an IPO that could raise $750 million. One of the few major LBOs remaining from the '05-'07 era, it could launch its offering in August. Sequoia-backed prenatal genetic test maker Natera (NTRA) also filed; its fast-growing test business is complemented by its potential to develop a blood-based cancer biopsy.

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IPO market snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index has traded up 8% year-to-date, compared to 2% for the S&P 500. Renaissance Capital's IPO ETF ( IPO ) tracks the index, and top ETF holdings include Alibaba (BABA), Hilton Worldwide (HLT) and Twitter ( TWTR ). The Renaissance International IPO Index has traded up 12% year-to-date, compared to 6% for the ACWX. Renaissance Capital's International IPO ETF ( IPOS ) tracks the index, and top ETF Holdings include Deutsche Annington and Altice.To find out if this is the best ETF for you, visit our IPO Investing page . The article Week ahead: 6 IPOs planned for the week of June 8 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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