Wedbush upgrades Voyager to Outperform on pipeline progress

Wedbush upgraded Voyager Therapeutics (VYGR) to Outperform from Neutral with a price target of $11, up from $7, after assuming coverage of the name. The firm added the company’s tau antibody for Alzheimer’s disease program and the AAV-mediated siRNA program for amyotrophic lateral sclerosis caused by mutations in the SOD1 gene into its valuation. Voyager’s clinical and preclinical data that became available recently should allow for improved visibility into potential clinical outcomes for both programs, the analyst tells investors in a research note. With the pipeline moving forward closer to clinical entries and data readouts, and the shares trading near 52-week low, Wedbush believes Voyager represents an attractive investment opportunity “for investors with patience that are willing to tolerate the high risks associated with early stage clinical programs for neurodegenerative disorders.”