Wedbush Starts Voyager Therapeutics (VYGR) at Outperform

Wedbush initiates coverage on Voyager Therapeutics (NASDAQ: VYGR) with a Outperform rating and a price target of $36.00.

Analyst David Nierengarten highlighted:

• Pioneering AAV-based gene therapy for serious diseases of the central nervous system (CNS). VYGR has selected a number of CNS diseases with validated, specific gene targets that are amenable to AAV gene therapy. The CNS represents an ideal site for gene therapy due to its immune privilege status and terminally-differentiated cells that allow long-term transgene expression.
• Lead program VY-AADC01 is in development for the treatment of advanced Parkinson's disease (PD). PD is a progressive neurodegenerative disorder characterized by loss of motor control and other movement disorders, caused by progressive loss of neurons that produce AADC, an enzyme that converts L-Dopa into dopamine. VY-AADC01 aims to restore expression of AADC, allowing clinically meaningful improvements in L-Dopa responsiveness and motor symptoms.
• Ongoing VY-AADC01 Ph 1b study has demonstrated an early signal of efficacy and dose response. Clinically meaningful improvements in off-time and on-time, coinciding with a large dose reduction of L-Dopa at 3 months post therapy, were observed for a patient administered the highest effective dose thus far. In addition, higher levels of AADC expression have been observed in areas covered by VY-AADC01 in patients administered the highest doses.
• VYGR's pipeline programs backed by strong preclinical data. VYGR's second program is VY-SOD101, a gene therapy in development for the treatment of monogenic amyotrophic lateral sclerosis (ALS) - knockdown of SOD1 in a mouse model of monogenic ALS provided a significant survival benefit over mice administered a control vector. VYGR's other preclinical programs target Friedreich's ataxia, Huntington's disease and spinal muscular atrophy.
• Collaboration with Genzyme validates VYGR's product development platform. We believe the strategic partnership allows leverage of the combined expertise, and provides substantial financial support for VYGR to develop its pipeline. Importantly, VYGR has retained at a minimum co-promotion rights in the U.S. for its product candidates.

For an analyst ratings summary and ratings history on Voyager Therapeutics click here. For more ratings news on Voyager Therapeutics click here.

Shares of Voyager Therapeutics closed at $29.25 yesterday.

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