Voyager Therapeutics (NASDAQ:VYGR) Releases Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• Voyager Therapeutics reported a loss of $0.57 EPS for the quarter, missing analysts' estimates by $0.09, with revenue of $5.20 million against an expected $9.50 million.
• The company's stock has seen a recent target price downgrade from $9.00 to $8.00 by Wedbush, but it currently holds a consensus rating of "Buy" with an average target price of $13.25.
• Institutions now hold 48.03% of Voyager Therapeutics’ shares, with notable increases in stakes from several hedge funds and investors.

Voyager Therapeutics (NASDAQ:VYGR - Get Free Report) released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.09), Zacks reports. Voyager Therapeutics had a negative net margin of 253.49% and a negative return on equity of 37.65%. The company had revenue of $5.20 million during the quarter, compared to analysts' expectations of $9.50 million.

Voyager Therapeutics Price Performance

VYGR stock traded up $0.34 during mid-day trading on Wednesday, reaching $3.73. 890,018 shares of the company traded hands, compared to its average volume of 525,242. The company has a market capitalization of $206.73 million, a P/E ratio of -2.01 and a beta of 0.90. Voyager Therapeutics has a 52-week low of $2.64 and a 52-week high of $8.27. The company has a fifty day moving average price of $3.23 and a 200-day moving average price of $3.60.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VYGR. American Century Companies Inc. grew its stake in Voyager Therapeutics by 5.1% in the second quarter. American Century Companies Inc. now owns 138,269 shares of the company's stock worth $430,000 after purchasing an additional 6,748 shares during the period. Geode Capital Management LLC grew its stake in shares of Voyager Therapeutics by 1.1% in the second quarter. Geode Capital Management LLC now owns 1,116,847 shares of the company's stock worth $3,474,000 after acquiring an additional 11,929 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Voyager Therapeutics in the first quarter worth $218,000. Hsbc Holdings PLC lifted its holdings in shares of Voyager Therapeutics by 118.5% during the second quarter. Hsbc Holdings PLC now owns 148,377 shares of the company's stock valued at $440,000 after purchasing an additional 80,474 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Voyager Therapeutics by 863.3% during the first quarter. Acadian Asset Management LLC now owns 230,708 shares of the company's stock valued at $778,000 after purchasing an additional 206,758 shares in the last quarter. Hedge funds and other institutional investors own 48.03% of the company's stock.

Analysts Set New Price Targets

Separately, Wedbush decreased their target price on Voyager Therapeutics from $9.00 to $8.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $13.25.

About Voyager Therapeutics

Voyager Therapeutics, Inc, a biotechnology company, focuses on the treatment of gene therapy and neurology diseases. The company's lead clinical candidate is VY-TAU01, an anti-tau antibody program for the treatment of alzheimer's disease. Its product pipeline includes superoxide dismutase 1 silencing gene therapy, which is in preclinical trial for the treatment of amyotrophic lateral sclerosis; tau silencing gene therapy, which is in preclinical trial for the treatment of alzheimer's disease; and vectorized anti-amyloid antibody, a gene therapy targeting anti-amyloid for the treatment of alzheimer's disease and is in preclinical trial.