Voyager Therapeutics Down 11% on End of AbbVie Collaborations
August 04 2020 - 1:26PM
Dow Jones News
By Josh Beckerman
Voyager Therapeutics Inc. shares were recently down 11% to
$10.06 following the gene therapy company's announcement Monday
afternoon that its collaborations with AbbVie Inc. have ended.
"Through the tau and alpha-synuclein collaborations, we believe
we have made considerable progress against targets for
neurodegenerative diseases," the company said. Voyager retains full
rights to the vectorization technology and certain antibodies
developed as part of the collaborations.
HC Wainwright & Co. cut its price target to $14 from $18 on
Tuesday, maintaining its buy rating. Wedbush, which maintains an
outperform rating, believes the "dissolution likely has more to do
with strategic shifts at ABBV versus anything specific from the
collaboration."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
August 04, 2020 13:11 ET (17:11 GMT)
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