Shares of Voyager Therapeutics (NASDAQ:VYGR) continued with their momentum in pre-market trading on Tuesday, as they gained another 4%. The company announced a deal with Neurocrine Biosciences (NBIX) to develop multiple gene therapies to treat neurological diseases.
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The collaboration also involves Voyager’s GBA1 gene therapy program for Parkinson’s disease and other GBA1-mediated diseases. The companies have also joined forces to work on “three new gene therapy programs directed to rare central nervous system targets, each also leveraging Voyager’s novel TRACER capsids.”
Regarding the financial terms, Neurocrine will make an upfront payment of $175 million to Voyager. The payment consists of $136 million in cash and the remaining $39 million as an equity investment in newly issued Voyager shares.
Is VYGR a Buy, Hold, or Sell Stock?
VYGR stock is currently trading up 15% over the past three months. Also, Wall Street is cautiously optimistic about the stock. Voyager has a Moderate Buy consensus rating based on one Buy and one Hold. The average stock price target of $9 implies 28.7% upside potential from the current level.
