Voyager Therapeutics initiated with an Outperform at Leerink

Leerink analyst Lili Nsongo initiated coverage of Voyager Therapeutics with an Outperform rating and $15 price target Voyager is a neurogenetics company focusing on the development of central nervous system-penetrant capsids, using its Tracer technology platform, which has attracted partnerships with large biopharma, the analyst tells investors in a research note. The firm views the company’s cash flows from existing capsid licensing agreements and collaborations as “significantly underappreciated” at current trading values, and expects progressive clinical de-risking of Tracer-based assets to result in additional business development optionality.