DB:VT6

Stock Analysis Report

Executive Summary

Voyager Therapeutics, Inc., a clinical-stage gene therapy company, focuses on the development of treatments for patients suffering from severe neurological diseases.


Snowflake Analysis

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has Voyager Therapeutics's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VT6's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.4%

VT6

-0.7%

DE Biotechs

-0.6%

DE Market


1 Year Return

-55.8%

VT6

-13.2%

DE Biotechs

-20.9%

DE Market

Return vs Industry: VT6 underperformed the German Biotechs industry which returned -13.2% over the past year.

Return vs Market: VT6 underperformed the German Market which returned -20.9% over the past year.


Shareholder returns

VT6IndustryMarket
7 Day-2.4%-0.7%-0.6%
30 Day-21.1%-8.2%-18.6%
90 Day-30.6%-21.0%-26.2%
1 Year-55.8%-55.8%-12.9%-13.2%-18.6%-20.9%
3 Year-32.4%-32.4%14.5%13.2%-19.0%-25.8%
5 Yearn/a-9.5%-11.8%-21.2%-31.8%

Price Volatility Vs. Market

How volatile is Voyager Therapeutics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Voyager Therapeutics undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VT6 (€8.05) is trading below our estimate of fair value (€46.3)

Significantly Below Fair Value: VT6 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: VT6 is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: VT6 is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VT6's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VT6 is good value based on its PB Ratio (3x) compared to the DE Biotechs industry average (3.3x).


Next Steps

Future Growth

How is Voyager Therapeutics forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

-0.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VT6 is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: VT6 is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: VT6 is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: VT6's revenue (23% per year) is forecast to grow faster than the German market (3.9% per year).

High Growth Revenue: VT6's revenue (23% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VT6 is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Voyager Therapeutics performed over the past 5 years?

-20.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VT6 is currently unprofitable.

Growing Profit Margin: VT6 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: VT6 is unprofitable, and losses have increased over the past 5 years at a rate of -20% per year.

Accelerating Growth: Unable to compare VT6's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: VT6 is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (16.1%).


Return on Equity

High ROE: VT6 has a negative Return on Equity (-43.81%), as it is currently unprofitable.


Next Steps

Financial Health

How is Voyager Therapeutics's financial position?


Financial Position Analysis

Short Term Liabilities: VT6's short term assets ($304.7M) exceed its short term liabilities ($76.0M).

Long Term Liabilities: VT6's short term assets ($304.7M) exceed its long term liabilities ($179.2M).


Debt to Equity History and Analysis

Debt Level: VT6 is debt free.

Reducing Debt: VT6 has no debt compared to 5 years ago when its debt to equity ratio was 373.8%.


Balance Sheet

Inventory Level: VT6 has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if VT6's debt is covered by short term assets.


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.

Stable Cash Runway: Whilst unprofitable VT6 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: VT6 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 5.6% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate VT6's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VT6's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VT6's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VT6's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VT6's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.7yrs

Average management tenure


CEO

G. Turenne (45yo)

1.75s

Tenure

US$8,209,845

Compensation

Mr. G. Andre Turenne has been President, Chief Executive Officer and Director at Voyager Therapeutics, Inc. since July 16, 2018. Mr. Turenne has proven leadership, strategic vision, and a strong track reco ...


CEO Compensation Analysis

Compensation vs Market: G.'s total compensation ($USD8.21M) is above average for companies of similar size in the German market ($USD1.10M).

Compensation vs Earnings: Insufficient data to compare G.'s compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
G. Turenne
CEO, President & Director1.75yrsUS$8.21m0.058% $161.1k
Matthew Ottmer
Executive Officer0.17yrUS$1.85m0.071% $198.0k
Dinah Sah
Consultant & Member of Scientific Advisory Board0.83yrUS$1.81m0.37% $1.0m
Steven Paul
Executive Science Advisor & Director5.58yrsUS$7.90m3.46% $9.7m
Krystof Bankiewicz
no datano datano data
Guangping Gao
no datano datano data
Mark Kay
no datano datano data
Phillip Zamore
no datano datano data
Allison Dorval
CFO & Principal Accounting Officer1.83yrsno data0.021% $59.2k
Luis Maranga
Chief Technical Operations Officer2.42yrsno datano data

1.7yrs

Average Tenure

53yo

Average Age

Experienced Management: VT6's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
G. Turenne
CEO, President & Director1.75yrsUS$8.21m0.058% $161.1k
Dinah Sah
Consultant & Member of Scientific Advisory Board0.83yrUS$1.81m0.37% $1.0m
Steven Paul
Executive Science Advisor & Director5.58yrsUS$7.90m3.46% $9.7m
James Geraghty
Independent Director6.25yrsUS$270.05k0.21% $577.1k
Mark Levin
Independent Director6.83yrsUS$258.55k0.099% $276.5k
Patrick Aebischer
Member of Scientific Advisory Board4.25yrsno datano data
Steven Hyman
Independent Director4.58yrsUS$266.55kno data
Michael Higgins
Independent Chairman0.83yrUS$278.55kno data
Mavis Agbandje-McKenna
Member of Scientific Advisory Boardno datano datano data
Massimo Pandolfo
Member of Scientific Advisory Boardno datano datano data

4.4yrs

Average Tenure

64.5yo

Average Age

Experienced Board: VT6's board of directors are considered experienced (4.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 12%.


Top Shareholders

Company Information

Voyager Therapeutics, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Voyager Therapeutics, Inc.
  • Ticker: VT6
  • Exchange: DB
  • Founded: 2013
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$302.055m
  • Listing Market Cap: US$279.975m
  • Shares outstanding: 37.15m
  • Website: https://www.voyagertherapeutics.com

Number of Employees


Location

  • Voyager Therapeutics, Inc.
  • 75 Sidney Street
  • Cambridge
  • Massachusetts
  • 2139
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VYGRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDNov 2015
VT6DB (Deutsche Boerse AG)YesCommon StockDEEURNov 2015
VYGR *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNNov 2015

Biography

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.; 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 02:48
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.