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Voyager Therapeutics (VYGR)
NASDAQ:VYGR
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Voyager Therapeutics (VYGR) AI Stock Analysis

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VYGR

Voyager Therapeutics

(NASDAQ:VYGR)

Rating:49Neutral
Price Target:
$3.00
▼(-6.25%Downside)
The overall score is primarily impacted by the company's financial challenges, including declining revenues and negative profitability. Technical analysis shows some stability, but the negative P/E ratio and lack of dividends limit valuation appeal.
Positive Factors
Analyst Recommendation
Analyst reiterates BUY recommendation, believing shares remain undervalued ahead of internal/external catalysts.
Financial Performance
Voyager has $295M in cash and a projected runway into mid-2027, indicating meaningful potential value creation from clinical advancement, partnering activity, and platform validation.
Pipeline Development
Voyager's tau-targeting Alzheimer's programs and partnered gene therapy pipeline are progressing, with key milestones expected over the next 12-18 months.
Negative Factors
Earnings Miss
Net loss per share was ($0.53) vs consensus of ($0.45).
Stock Performance
The stock has pulled back approximately 43% this year due to macro factors and investor apathy around small/mid-cap biotech.

Voyager Therapeutics (VYGR) vs. SPDR S&P 500 ETF (SPY)

Voyager Therapeutics Business Overview & Revenue Model

Company DescriptionVoyager Therapeutics, Inc., a gene therapy company, focuses on the development of treatments and next-generation platform technologies. The company's lead clinical candidate is the VY-AADC, which is in open-label Phase 1 clinical trial for the treatment of Parkinson's disease. Its preclinical programs comprise VY-SOD102 for the treatment of amyotrophic lateral sclerosis; VY-HTT01 for Huntington's disease; VY-FXN01 for Friedreich's ataxia; and Tau program for the treatment of tauopathies, including Alzheimer's disease, progressive supranuclear palsy, and frontotemporal dementia, as well as for spinal muscular atrophy. The company has collaboration and license agreements with Neurocrine Biosciences, Inc., Pfizer Inc., and Novartis Pharma, A.G. for the research, development, and commercialization of adeno-associated virus gene therapy products. Voyager Therapeutics, Inc. was incorporated in 2013 and is headquartered in Cambridge, Massachusetts.
How the Company Makes MoneyVoyager Therapeutics makes money primarily through strategic collaborations, licensing agreements, and milestone payments related to its gene therapy programs. The company partners with larger pharmaceutical firms to co-develop and commercialize its therapeutic candidates, which enables it to share in the research and development costs while also receiving upfront payment, milestone payments, and potential royalties on sales. Additionally, Voyager may receive government grants or other funding to support its research initiatives. These partnerships and funding sources are critical to advancing its pipeline and generating revenue before its therapies reach commercialization.

Voyager Therapeutics Earnings Call Summary

Earnings Call Date:May 06, 2025
(Q4-2024)
|
% Change Since: -1.54%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with significant advancements and strong financial positioning. Despite a setback in the SOD1 silencing program, the progress in tau-targeting therapies and potential substantial milestone payments from partnerships highlight a promising future.
Q4-2024 Updates
Positive Updates
Strong Cash Position and Potential Milestone Payments
Voyager Therapeutics reported $332 million in cash as of the end of 2024, with potential future milestone payments totaling $8.2 billion from partnerships.
Advancements in Tau Silencing Program
The tau silencing gene therapy program, VY1706, moved forward into IND-enabling studies, showing 50% to 73% knockdown of tau messenger RNA in non-human primate studies.
Positive Results for Anti-Tau Antibody VY7523
VY7523 performed well in a single ascending dose study with no serious adverse events, showing dose-proportional pharmacokinetics and a CSF to serum ratio of 0.3%.
Promising External Data Supporting Anti-Tau Strategies
UCB's bepranemab demonstrated impact on tau accumulation, and further data from Merck and other companies are anticipated, which may support the potential of tau-targeted therapies.
Progress in Partnered Programs with Neurocrine
Two programs with Neurocrine are expected to enter the clinic or have an IND filed this year, indicating positive collaboration progress.
Negative Updates
Setback in SOD1 Silencing Gene Therapy Program
The SOD1 silencing gene therapy program moved back into the research stage due to the payload not meeting the target profile, requiring the identification of a new payload.
Challenges in Establishing Capsid Proof of Concept
The company is looking to establish capsid proof of concept through upcoming programs with Neurocrine, following complications with the SOD1 program.
Company Guidance
During the Voyager Therapeutics Fourth Quarter and Year-End 2024 Financial Results Conference Call, the company provided several key metrics and updates about their progress and future plans. Voyager reported $332 million in cash as of the end of 2024 and highlighted potential future milestone payments totaling $8.2 billion, emphasizing the significance of their partnerships as a source of non-dilutive revenue. The company is advancing its tau silencing gene therapy, VY1706, into IND-enabling studies, targeting IND submission in 2026, with promising non-human primate study results showing 50% to 73% knockdown of tau messenger RNA across the brain. Additionally, the anti-tau antibody, VY7523, showed favorable results in a single ascending dose study, with a CSF to serum ratio of 0.3%. Voyager expects initial tau PET data from a multiple ascending dose study in Alzheimer's patients in the second half of 2026. They also noted their $2.9 billion in developmental milestones and guidance extending their cash runway to mid-2027.

Voyager Therapeutics Financial Statement Overview

Summary
Voyager Therapeutics is experiencing financial challenges including declining revenue, negative profitability margins, and cash flow issues despite a strong equity position. The negative net profit and increasing leverage are major concerns.
Income Statement
45
Neutral
Voyager Therapeutics has experienced significant revenue volatility, with a notable decline in revenue from 2023 to TTM. The gross profit margin has decreased, and the company is currently operating at a net loss, impacting net profit margins negatively. The EBIT and EBITDA margins are also negative, indicating operational challenges.
Balance Sheet
60
Neutral
The company maintains a strong equity position with a high equity ratio, suggesting financial stability. However, the debt-to-equity ratio has increased slightly, indicating a rise in leverage. Return on equity is negative due to net losses, which is a concern for profitability.
Cash Flow
50
Neutral
Operating cash flow is negative, reflecting cash burn, but the company has managed to maintain a positive free cash flow growth rate in TTM. The operating cash flow to net income ratio is unfavorable due to negative net income, indicating cash flow challenges.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue80.00M250.01M40.91M37.41M171.13M
Gross Profit80.00M245.57M34.72M-36.37M62.38M
EBITDA-78.56M126.45M-44.65M-68.45M31.20M
Net Income-65.00M132.33M-46.41M-66.03M36.74M
Balance Sheet
Total Assets393.05M351.28M159.36M193.85M261.58M
Cash, Cash Equivalents and Short-Term Investments266.68M230.88M118.85M132.54M181.14M
Total Debt43.73M20.29M23.13M44.18M47.61M
Total Liabilities93.29M114.96M100.34M98.80M107.26M
Stockholders Equity299.76M236.32M59.02M95.06M154.32M
Cash Flow
Free Cash Flow-18.83M74.66M-15.00M-55.13M-108.81M
Operating Cash Flow-15.31M77.92M-12.51M-53.52M-96.72M
Investing Cash Flow-94.86M-141.64M-7.34M65.91M113.00M
Financing Cash Flow114.02M33.65M1.11M612.00K3.16M

Voyager Therapeutics Technical Analysis

Technical Analysis Sentiment
Negative
Last Price3.20
Price Trends
50DMA
3.19
Positive
100DMA
3.35
Negative
200DMA
4.60
Negative
Market Momentum
MACD
0.01
Positive
RSI
48.67
Neutral
STOCH
36.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VYGR, the sentiment is Negative. The current price of 3.2 is below the 20-day moving average (MA) of 3.26, above the 50-day MA of 3.19, and below the 200-day MA of 4.60, indicating a neutral trend. The MACD of 0.01 indicates Positive momentum. The RSI at 48.67 is Neutral, neither overbought nor oversold. The STOCH value of 36.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VYGR.

Voyager Therapeutics Risk Analysis

Voyager Therapeutics disclosed 72 risk factors in its most recent earnings report. Voyager Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Voyager Therapeutics Peers Comparison

Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
57
Neutral
$362.32M322.49%-30.66%36.48%
52
Neutral
$7.58B0.48-62.71%2.36%15.33%0.41%
49
Neutral
$180.95M5.05-27.61%-43.75%-8479.41%
46
Neutral
$214.95M-32.97%
45
Neutral
$519.66M-32.12%10.98%
43
Neutral
$550.09M-115.21%20.58%
38
Underperform
$273.19M-66.13%43.21%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
VYGR
Voyager Therapeutics
3.20
-6.06
-65.44%
ANNX
Annexon Biosciences
2.38
-3.83
-61.67%
FHTX
Foghorn Therapeutics
5.90
-1.08
-15.47%
FDMT
4D Molecular Therapeutics
4.36
-12.80
-74.59%
TERN
Terns Pharmaceuticals
5.75
-1.92
-25.03%
PRME
Prime Medicine, Inc.
3.83
-1.60
-29.47%

Voyager Therapeutics Corporate Events

Executive/Board ChangesShareholder Meetings
Voyager Therapeutics Approves Stock Plans at Annual Meeting
Neutral
Jun 5, 2025

At the annual meeting held on June 3, 2025, Voyager Therapeutics‘ stockholders approved the 2025 Stock Incentive Plan and the Amended and Restated 2015 Employee Stock Purchase Plan, both previously adopted by the Board of Directors. Additionally, stockholders elected four Class I directors to serve until the 2028 meeting, approved executive compensation, and ratified Ernst & Young LLP as the independent accounting firm for the fiscal year ending December 31, 2025. These decisions are expected to impact the company’s governance and operational strategies moving forward.

The most recent analyst rating on (VYGR) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Voyager Therapeutics stock, see the VYGR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 30, 2025