NBIX - Voyager sinks as after BITG cut citing multiple clinical holds
Voyager Therapeutics (VYGR) has lost ~12.8% today after BTIG downgraded the stock to neutral from buy, noting the multiple clinical holds faced by the company. The price target of $6.50 per share implies a ~18.8% downside to the previous close.Even though the analyst Thomas Shrader and the team continue to think that ‘Voyager is a high-quality gene therapy company,’ they cite the decision by Neurocrine Biosciences (NASDAQ:NBIX) to terminate its collaboration with Voyager in Parkinson’s disease.The company’s Phase 2 trial for NBIb-1817 (VY-AADC) in Parkinson's disease has been put under put on clinical hold by the FDA, and the departure of Neurocrine in the program ‘has complicated the story,’ according to analysts.Back in October, Voyager faced another setback when its Investigational New Drug submission for VY-HTT01 was placed on clinical hold by the FDA.With a neutral rating on the stock, Seeking Alpha contributor Avisol Capital Partners urge investors not to ‘give up’ on
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Voyager sinks as after BITG cut citing multiple clinical holds