Voyager Therapeutics Down 11% on End of AbbVie Collaborations
05 August 2020 - 3:26AM
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
AbbVie (NYSE:ABBV)
Historical Stock Chart
From Apr 2024 to May 2024
AbbVie (NYSE:ABBV)
Historical Stock Chart
From May 2023 to May 2024