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Voyager Therapeutics

DB:VT6
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VT6
DB
$706M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Voyager Therapeutics, Inc., a clinical-stage gene therapy company, focuses on the development of treatments for patients suffering from severe neurological diseases. The last earnings update was 53 days ago. More info.


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  • Voyager Therapeutics has significant price volatility in the past 3 months.
VT6 Share Price and Events
7 Day Returns
-9.1%
DB:VT6
-2.4%
DE Biotechs
1.8%
DE Market
1 Year Returns
14.6%
DB:VT6
-10.2%
DE Biotechs
-6%
DE Market
VT6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Voyager Therapeutics (VT6) -9.1% 0.7% 126.1% 14.6% 64.5% -
DE Biotechs -2.4% 1.8% -7.7% -10.2% 51.2% 10.1%
DE Market 1.8% 4.2% 7.4% -6% 10.1% 15.4%
1 Year Return vs Industry and Market
  • VT6 outperformed the Biotechs industry which returned -10.2% over the past year.
  • VT6 outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
VT6
Industry
5yr Volatility vs Market
Related Companies

VT6 Value

 Is Voyager Therapeutics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Voyager Therapeutics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Voyager Therapeutics.

DB:VT6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:VT6
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.448 (1 + (1- 21%) (0%))
1.3
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.3 * 5.96%)
7.98%

Discounted Cash Flow Calculation for DB:VT6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Voyager Therapeutics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:VT6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.98%)
2019 53.60 Analyst x3 49.64
2020 -108.08 Analyst x3 -92.70
2021 -0.97 Analyst x2 -0.77
2022 -32.97 Analyst x2 -24.25
2023 56.84 Analyst x2 38.73
2024 93.94 Est @ 65.27% 59.28
2025 136.92 Est @ 45.76% 80.02
2026 180.87 Est @ 32.1% 97.89
2027 221.63 Est @ 22.54% 111.09
2028 256.75 Est @ 15.84% 119.19
Present value of next 10 years cash flows $438.11
DB:VT6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $256.75 × (1 + 0.23%) ÷ (7.98% – 0.23%)
$3,321.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,321.37 ÷ (1 + 7.98%)10
$1,541.88
DB:VT6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $438.11 + $1,541.88
$1,979.99
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,979.99 / 36.80
$53.81
DB:VT6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:VT6 represents 0.88071x of NasdaqGS:VYGR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88071x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 53.81 x 0.88071
€47.39
Value per share (EUR) From above. €47.39
Current discount Discount to share price of €16.89
= -1 x (€16.89 - €47.39) / €47.39
64.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Voyager Therapeutics is available for.
Intrinsic value
>50%
Share price is €16.89 vs Future cash flow value of €47.39
Current Discount Checks
For Voyager Therapeutics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Voyager Therapeutics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Voyager Therapeutics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Voyager Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Voyager Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:VT6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-2.75
NasdaqGS:VYGR Share Price ** NasdaqGS (2019-04-18) in USD $19.18
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.44x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Voyager Therapeutics.

DB:VT6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:VYGR Share Price ÷ EPS (both in USD)

= 19.18 ÷ -2.75

-6.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Voyager Therapeutics is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Voyager Therapeutics is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Voyager Therapeutics's expected growth come at a high price?
Raw Data
DB:VT6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
-4.2%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Voyager Therapeutics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Voyager Therapeutics's assets?
Raw Data
DB:VT6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $1.44
NasdaqGS:VYGR Share Price * NasdaqGS (2019-04-18) in USD $19.18
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.71x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.84x
DB:VT6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:VYGR Share Price ÷ Book Value per Share (both in USD)

= 19.18 ÷ 1.44

13.37x

* Primary Listing of Voyager Therapeutics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Voyager Therapeutics is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Voyager Therapeutics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Voyager Therapeutics has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VT6 Future Performance

 How is Voyager Therapeutics expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Voyager Therapeutics expected to grow at an attractive rate?
  • Unable to compare Voyager Therapeutics's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Voyager Therapeutics's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • Voyager Therapeutics's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:VT6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:VT6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts -4.2%
DB:VT6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 38.3%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.5%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:VT6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:VT6 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 148 -33 -97 7
2022-12-31 46 -116 -125 6
2021-12-31 52 -88 -102 8
2020-12-31 46 -101 -96 9
2019-12-31 35 64 -98 7
DB:VT6 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 8 -16 -88
2018-09-30 12 -6 -78
2018-06-30 11 -5 -81
2018-03-31 10 2 -74
2017-12-31 10 -61 -71
2017-09-30 6 -60 -74
2017-06-30 8 -54 -59
2017-03-31 11 -47 -50
2016-12-31 14 -42 -40
2016-09-30 17 -39 -34
2016-06-30 18 -36 -32
2016-03-31 20 -33 -30

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Voyager Therapeutics is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Voyager Therapeutics's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:VT6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from Voyager Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VT6 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 -2.06 -1.18 -2.50 4.00
2022-12-31 -2.78 -1.64 -3.82 5.00
2021-12-31 -2.74 -1.71 -3.79 5.00
2020-12-31 -2.57 -1.84 -3.61 9.00
2019-12-31 -2.87 -2.10 -4.11 7.00
DB:VT6 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -2.75
2018-09-30 -2.48
2018-06-30 -2.71
2018-03-31 -2.61
2017-12-31 -2.64
2017-09-30 -2.84
2017-06-30 -2.31
2017-03-31 -1.95
2016-12-31 -1.59
2016-09-30 -1.54
2016-06-30 -1.99
2016-03-31 -2.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Voyager Therapeutics will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Voyager Therapeutics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Voyager Therapeutics has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VT6 Past Performance

  How has Voyager Therapeutics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Voyager Therapeutics's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Voyager Therapeutics does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Voyager Therapeutics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Voyager Therapeutics's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Voyager Therapeutics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Voyager Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:VT6 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 7.62 -88.29 33.81
2018-09-30 11.96 -77.59 25.52
2018-06-30 11.01 -80.64 23.85
2018-03-31 9.61 -73.98 22.01
2017-12-31 10.14 -70.70 19.74
2017-09-30 6.15 -73.54 17.85
2017-06-30 8.31 -59.19 16.28
2017-03-31 10.85 -49.65 14.62
2016-12-31 14.22 -40.19 13.27
2016-09-30 16.80 -34.34 12.95
2016-06-30 18.42 -32.25 12.05
2016-03-31 19.59 -29.67 11.59
2015-12-31 17.33 -38.29 9.91
2015-09-30 12.40 -34.67 8.29
2015-06-30 7.46 -32.17 7.07
2015-03-31 2.58 -30.29 5.80
2014-12-31 -17.68 5.47
2013-12-31 -7.67 2.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Voyager Therapeutics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Voyager Therapeutics has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Voyager Therapeutics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Voyager Therapeutics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Voyager Therapeutics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VT6 Health

 How is Voyager Therapeutics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Voyager Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Voyager Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Voyager Therapeutics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Voyager Therapeutics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Voyager Therapeutics has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Voyager Therapeutics Company Filings, last reported 3 months ago.

DB:VT6 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 46.45 0.00 155.81
2018-09-30 65.59 0.00 179.60
2018-06-30 81.97 0.00 196.12
2018-03-31 98.29 0.00 218.20
2017-12-31 134.05 0.00 169.05
2017-09-30 85.21 0.00 125.59
2017-06-30 105.29 0.00 141.32
2017-03-31 122.70 0.00 157.67
2016-12-31 135.92 0.00 174.42
2016-09-30 149.12 0.00 191.15
2016-06-30 155.70 0.00 203.99
2016-03-31 163.60 0.00 203.99
2015-12-31 169.07 0.00 194.34
2015-09-30 101.72 0.00 107.67
2015-06-30 104.72 0.00 108.62
2015-03-31 47.88 0.00 116.41
2014-12-31 1.15 6.31 7.04
2013-12-31 -3.83 2.93 0.14
  • Voyager Therapeutics has no debt.
  • Voyager Therapeutics currently has no debt however we can't compare to 5 years ago as we have no data for that period.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Voyager Therapeutics has sufficient cash runway for more than 3 years based on current free cash flow.
  • Voyager Therapeutics has sufficient cash runway for more than 3 years if free cash flow continues to grow at historical rates of 3.6% each year.
X
Financial health checks
We assess Voyager Therapeutics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Voyager Therapeutics has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VT6 Dividends

 What is Voyager Therapeutics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Voyager Therapeutics dividends.
If you bought €2,000 of Voyager Therapeutics shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Voyager Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Voyager Therapeutics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:VT6 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:VT6 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Voyager Therapeutics has not reported any payouts.
  • Unable to verify if Voyager Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Voyager Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Voyager Therapeutics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Voyager Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Voyager Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Voyager Therapeutics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VT6 Management

 What is the CEO of Voyager Therapeutics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
G. Turenne
TENURE AS CEO 0.8 years
CEO Bio

Mr. G. Andre Turenne has been President, Chief Executive Officer & Board Director at Voyager Therapeutics, Inc. since July 16, 2018. He has proven leadership, strategic vision, and a strong track record of commercial and business development experience including nearly 12 years at Genzyme and Sanofi where he most recently served as Sanofi’s senior vice president, global head, business development and licensing responsible for partnering activities across all of Sanofi’s business units including Sanofi Pasteur, Sanofi Genzyme, Diabetes-Cardiovascular, General Medicines, and Consumer Health, and also served as Chair of the Sanofi Transaction Committee. He previously served as global head of strategy and business development at Genzyme following its acquisition by Sanofi. In addition to his extensive business development transactions and leadership positions, Mr. Turenne has held senior leadership positions at the country level as general manager of Sanofi Genzyme Australia/New Zealand with P&L responsibility for that region and at the global franchise level as head of commercial operations for the Renal and Endocrinology division, which achieved one billion dollars in annual revenues during his time. Mr. Turenne began his career in industry as a consultant at Kendall Strategies, the consulting arm of Feinstein Kean Healthcare, now part of Ogilvy. He serves as Director of Valerion Therapeutics, LLC. Mr. Turenne holds a Bachelor of Arts from Kalamazoo College and a Master of Business Administration from the Tuck School of Business at Dartmouth.

CEO Compensation
  • Insufficient data for G. to compare compensation growth.
  • Insufficient data for G. to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Voyager Therapeutics management team in years:

1.1
Average Tenure
57
Average Age
  • The average tenure for the Voyager Therapeutics management team is less than 2 years, this suggests a new team.
Management Team

Matt Ottmer

TITLE
Chief Operating Officer
COMPENSATION
$3M
AGE
47
TENURE
1.6 yrs

Steve Paul

TITLE
Executive Science Advisor & Director
COMPENSATION
$3M
AGE
67
TENURE
0.7 yrs

G. Turenne

TITLE
CEO, President & Director
TENURE
0.8 yrs

Krystof Bankiewicz

TITLE

Guangping Gao

TITLE

Mark Kay

TITLE
AGE
59

Phil Zamore

TITLE

Allison Dorval

TITLE
CFO & Principal Accounting Officer
AGE
42
TENURE
0.8 yrs

Luis Maranga

TITLE
Chief Technical Operations Officer
TENURE
1.4 yrs

Dinah Sah

TITLE
Chief Scientific Officer
COMPENSATION
$1M
AGE
57
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Voyager Therapeutics board of directors in years:

3.8
Average Tenure
64
Average Age
  • The tenure for the Voyager Therapeutics board of directors is about average.
Board of Directors

Mark Levin

TITLE
Chairman
COMPENSATION
$130K
AGE
68
TENURE
5.8 yrs

G. Turenne

TITLE
CEO, President & Director
TENURE
0.8 yrs

Jim Geraghty

TITLE
Independent Director
COMPENSATION
$143K
AGE
63
TENURE
5.3 yrs

Perry Karsen

TITLE
Independent Director
COMPENSATION
$144K
AGE
63
TENURE
3.8 yrs

Michael Higgins

TITLE
Independent Director
COMPENSATION
$150K
AGE
56
TENURE
3.8 yrs

Steven Hyman

TITLE
Independent Director
COMPENSATION
$137K
AGE
66
TENURE
3.6 yrs

Steve Paul

TITLE
Executive Science Advisor & Director
COMPENSATION
$3M
AGE
67
TENURE
4.6 yrs

Mavis Agbandje-McKenna

TITLE
Member of Scientific Advisory Board

Massimo Pandolfo

TITLE
Member of Scientific Advisory Board

Patrick Aebischer

TITLE
Member of Scientific Advisory Board
AGE
64
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. Mar 19 Buy Neurocrine Biosciences, Inc. Company 12. Mar 19 12. Mar 19 4,179,728 €10.60 €44,294,997
13. Sep 18 Buy Glenn Pierce Individual 12. Sep 18 12. Sep 18 5,000 €15.84 €79,218
13. Sep 18 Buy James Geraghty Individual 10. Sep 18 10. Sep 18 3,000 €16.70 €50,113
21. Aug 18 Buy James Geraghty Individual 17. Aug 18 17. Aug 18 3,000 €16.04 €48,130
X
Management checks
We assess Voyager Therapeutics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Voyager Therapeutics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VT6 News

Simply Wall St News

VT6 Company Info

Description

Voyager Therapeutics, Inc., a clinical-stage gene therapy company, focuses on the development of treatments for patients suffering from severe neurological diseases. The company’s lead clinical candidate is the VY-AADC, which is in open-label Phase 1b clinical trial for the treatment of Parkinson’s disease. Its preclinical programs comprise VY-SOD101 for the treatment of amyotrophic lateral sclerosis; VY-HTT01 for Huntington’s disease; VY-FXN01 for Friedreich’s ataxia; Tau program for the treatment of tauopathies, including Alzheimer’s disease, progressive supranuclear palsy, and frontotemporal dementia; and VY-NAV01 for severe chronic pain. The company has strategic collaboration agreements with AbbVie Inc.; Sanofi Genzyme; the University of Massachusetts; and MRI Interventions, Inc., as well as collaborations with Brammer Bio and Fujifilm Diosynth Biotechnologies to support the development of its gene therapy programs. It also has a collaboration and license agreement with Neurocrine Biosciences, Inc. for the research, development, and commercialization of adeno-associated virus-based gene therapy products. Voyager Therapeutics, Inc. was founded in 2013 and is headquartered in Cambridge, Massachusetts.

Details
Name: Voyager Therapeutics, Inc.
VT6
Exchange: DB
Founded: 2013
$627,562,879
36,796,727
Website: http://www.voyagertherapeutics.com
Address: Voyager Therapeutics, Inc.
75 Sidney Street,
Cambridge,
Massachusetts, 02139,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS VYGR Common Stock Nasdaq Global Select US USD 11. Nov 2015
DB VT6 Common Stock Deutsche Boerse AG DE EUR 11. Nov 2015
Number of employees
Current staff
Staff numbers
124
Voyager Therapeutics employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/20 21:53
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/18
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.