ABBV AbbVie Inc

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)

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