Wedbush analyst Laura Chico lowered the price target on Voyager Therapeutics (NASDAQ: VYGR) to $8.00 (from $10.00) while maintaining a Neutral rating.

The analyst comments "Remain Neutral rated on VYGR, new $8 target. On the heels of the AGCST meeting, the 1Q24 VYGR update was largely as anticipated with no change to all major development timelines. Most notable, VYGR announced the IND for anti- tau antibody VY-TAU01 was cleared (prior timeline 1H24) with the first healthy volunteer expected to be dosed in the single-ascending dose portion of the study by mid-2024. The Phase 1b multiple-ascending dose study remains on track to start in 2025. After incorporating 1Q24 results and staying consistent with our valuation methodology, we now derive a $8 target on VYGR shares (prior $10 target) based on changes to our net cash and share count assumptions. Overall, we continue to await more fulsome clinical data prior to assigning specific program credit. With this in mind, we remain Neutral rated on VYGR shares."