Voyager Therapeutics, Inc. (VYGR)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$1.74-6.45%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Voyager Therapeutics, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	8.15M
EPS	—	-0.403
Annual ending 2026-12-31
Revenue	—	20.27M
EPS	—	-1.705
Annual ending 2027-12-31
Revenue	—	46.58M
EPS	—	-1.308

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain cash and reimbursements to cover expenses through 2028	The company aims to have enough cash through 2028.	Intact	Cash runs out before end of 2028	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Start VY1706 Alzheimer's clinical trial in second half of 2026	Voyager plans to start a key Alzheimer's trial in 2026.	Intact	Trial not started by end of 2026	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Build strategic partnerships to support pipeline and growth	A supporting condition in Voyager Therapeutics, Inc.'s published investment case. The stated target is Ongoing strategic partnerships supporting growth.	Intact	No new partnerships or loss of key partners	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-1.31

$-1.56 → $-1.31 · observed estimates

FY2027 revenue$0.05B

$0.06B → $0.05B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-1.56	$57,216,540	9 / 11
2026-07-25	$-1.56	$57,216,540	9 / 11
2026-07-26	$-1.53	$57,216,545	8 / 8
2026-07-27	$-1.56	$57,216,540	9 / 11
2026-07-28	$-1.56	$57,216,540	9 / 11
2026-07-29	$-1.53	$57,216,545	8 / 8
2026-07-30	$-1.42	$60,938,199	8 / 8
2026-07-31	$-1.42	$60,938,199	8 / 8
2026-08-01	$-1.42	$60,938,199	8 / 8
2026-08-02	$-1.42	$60,938,199	8 / 8
2026-08-03	$-1.42	$60,938,199	8 / 8
2026-08-04	$-1.56	$57,216,540	9 / 11
2026-08-05	$-1.56	$57,216,540	9 / 11
2026-08-06	$-1.42	$60,938,199	8 / 8
2026-08-08	$-1.42	$60,938,199	8 / 8
2026-08-09	$-1.42	$60,938,199	8 / 8
2026-08-10	$-1.42	$60,938,199	8 / 8
2026-08-12	$-1.42	$60,938,199	8 / 8
2026-08-13	$-1.33	$49,241,800	10 / 10
2026-08-14	$-1.42	$60,938,199	8 / 8
2026-08-15	$-1.42	$60,938,199	8 / 8
2026-08-16	$-1.42	$60,938,199	8 / 8
2026-08-17	$-1.42	$60,938,199	8 / 8
2026-08-18	$-1.42	$60,938,199	8 / 8
2026-08-19	$-1.42	$60,938,199	8 / 8
2026-08-20	$-1.31	$46,583,454	8 / 8
2026-08-21	$-1.31	$46,583,454	8 / 8
2026-08-22	$-1.31	$46,583,454	8 / 8
2026-08-23	$-1.31	$46,583,454	8 / 8
2026-08-24	$-1.31	$46,583,454	8 / 8
2026-08-25	$-1.31	$46,583,454	8 / 8
2026-08-26	$-1.31	$46,583,454	8 / 8
2026-08-27	$-1.31	$46,583,454	8 / 8
2026-08-28	$-1.31	$46,583,454	8 / 8
2026-08-29	$-1.31	$46,583,454	8 / 8
2026-08-30	$-1.31	$46,583,454	8 / 8
2026-08-31	$-1.31	$46,583,454	8 / 8
2026-09-01	$-1.31	$46,583,454	8 / 8
2026-09-02	$-1.31	$46,583,454	8 / 8
2026-09-03	$-1.31	$46,583,454	8 / 8
2026-09-04	$-1.31	$46,583,454	8 / 8
2026-09-05	$-1.31	$46,583,454	8 / 8
2026-09-06	$-1.31	$46,583,454	8 / 8
2026-09-07	$-1.31	$46,583,454	8 / 8
2026-09-08	$-1.31	$46,583,454	8 / 8
2026-09-09	$-1.31	$46,583,454	8 / 8
2026-09-10	$-1.31	$46,583,454	8 / 8
2026-09-11	$-1.31	$46,583,454	8 / 8
2026-09-12	$-1.31	$46,583,454	8 / 8
2026-09-13	$-1.31	$46,583,454	8 / 8
2026-09-14	$-1.31	$46,583,454	8 / 8
2026-09-15	$-1.31	$46,583,454	8 / 8
2026-09-16	$-1.31	$46,583,454	8 / 8
2026-09-17	$-1.31	$46,583,454	8 / 8
2026-09-18	$-1.31	$46,583,454	8 / 8
2026-09-19	$-1.31	$46,583,454	8 / 8
2026-09-20	$-1.31	$46,583,454	8 / 8
2026-09-21	$-1.31	$46,583,454	8 / 8
2026-09-22	$-1.31	$46,583,454	8 / 8
2026-09-23	$-1.31	$46,583,454	8 / 8
2026-09-24	$-1.31	$46,583,454	8 / 8
2026-09-25	$-1.31	$46,583,454	8 / 8
2026-09-26	$-1.31	$46,583,454	8 / 8
2026-09-27	$-1.31	$46,583,454	8 / 8
2026-09-28	$-1.31	$46,583,454	8 / 8
2026-09-29	$-1.31	$46,583,454	8 / 8
2026-09-30	$-1.31	$46,583,454	8 / 8
2026-10-01	$-1.31	$46,583,454	8 / 8
2026-10-02	$-1.31	$46,583,454	8 / 8
2026-10-03	$-1.31	$46,583,454	8 / 8
2026-10-04	$-1.31	$46,583,454	8 / 8
2026-10-05	$-1.31	$46,583,454	8 / 8
2026-10-06	$-1.31	$46,583,454	8 / 8
2026-10-07	$-1.31	$46,583,454	8 / 8
2026-10-08	$-1.31	$46,583,454	8 / 8
2026-10-09	$-1.31	$46,583,454	8 / 8
2026-10-10	$-1.31	$46,583,454	8 / 8
2026-10-11	$-1.31	$46,583,454	8 / 8
2026-10-12	$-1.31	$46,583,454	8 / 8
2026-10-13	$-1.31	$46,583,454	8 / 8
2026-10-14	$-1.31	$46,583,454	8 / 8
2026-10-15	$-1.31	$46,583,454	8 / 8
2026-10-16	$-1.31	$46,583,454	8 / 8
2026-10-17	$-1.31	$46,583,454	8 / 8
2026-10-18	$-1.31	$46,583,454	8 / 8
2026-10-19	$-1.31	$46,583,454	8 / 8
2026-10-20	$-1.31	$46,583,454	8 / 8
2026-10-21	$-1.31	$46,583,454	8 / 8
2026-10-22	$-1.31	$46,583,454	8 / 8
2026-10-23	$-1.31	$46,583,454	8 / 8
2026-10-24	$-1.31	$46,583,454	8 / 8

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	12	0	0
2026-06-01	11	0	0
2026-07-01	11	0	0
2026-08-01	11	0	0
2026-09-01	11	0	0
2026-10-01	11	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 11 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain cash and reimbursements to cover expenses through 2028Direct metric needs a verified mapping
Start VY1706 Alzheimer's clinical trial in second half of 2026Direct metric needs a verified mapping
Build strategic partnerships to support pipeline and growthDirect metric needs a verified mapping

Next proof point

Nov 9, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.3%Typical daily move · historical

Downside history

-65.2%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Voyager Therapeutics, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a high-risk, loss-making clinical-stage biotechnology business, not an established earnings compounder. The long-term thesis is in a watch state: management has continued to prioritize tau programs and reduce expenses, but substantive clinical delivery is not yet evidenced in the supplied quarter.

What's priced into Voyager Therapeutics, Inc.

The valuation signal says VYGR is cheap versus peers, while the expectations gap is negative; together, these suggest expectations are subdued rather than demanding. Confidence in that reading is low, and the evidence does not establish how much of the business risk is reflected in the valuation.

What the fundamentals likely do

Near term, results remain loss-making, and the supplied financials show collaboration revenue fell year over year in Q2 2026. Lower R&D and G&A costs show execution on expense reductions, but cash and marketable securities declined from Q1 to Q2 even as management maintained its runway statement into 2028. The next call carries meaningful guidance risk, and the recent CEO transition adds uncertainty without further detail in the evidence.

What Voyager Therapeutics, Inc. hinges on

Over the next few quarters, the thesis hinges on delivery of the anticipated VY1706 dosing and VY7523 imaging data, plus continued progress toward Alzheimer’s clinical milestones. The near-term downside scenario is a guidance cut or further weakening in jobs data, while stronger results and guidance from healthcare bellwethers could support the sector backdrop. Cash use and the credibility of the stated runway into 2028 remain important multi-year swing factors.

Bottom line

Over the next 1 to 3 years, VYGR remains a high-risk clinical-stage thesis with cost-cutting progress but limited evidence of clinical delivery and a declining cash balance in the supplied quarters. The valuation appears cheap versus peers, but confidence is low and the thesis depends on clinical progress, spending discipline, and runway execution. Not investment advice.

Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	8.15M
EPS	—	-0.403
Annual ending 2026-12-31
Revenue	—	20.27M
EPS	—	-1.705
Annual ending 2027-12-31
Revenue	—	46.58M
EPS	—	-1.308

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-1.31

$-1.56 → $-1.31 · observed estimates

FY2027 revenue$0.05B

$0.06B → $0.05B · observed estimates

Exact estimates & source dates

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-1.56	$57,216,540	9 / 11
2026-07-25	$-1.56	$57,216,540	9 / 11
2026-07-26	$-1.53	$57,216,545	8 / 8
2026-07-27	$-1.56	$57,216,540	9 / 11
2026-07-28	$-1.56	$57,216,540	9 / 11
2026-07-29	$-1.53	$57,216,545	8 / 8
2026-07-30	$-1.42	$60,938,199	8 / 8
2026-07-31	$-1.42	$60,938,199	8 / 8
2026-08-01	$-1.42	$60,938,199	8 / 8
2026-08-02	$-1.42	$60,938,199	8 / 8
2026-08-03	$-1.42	$60,938,199	8 / 8
2026-08-04	$-1.56	$57,216,540	9 / 11
2026-08-05	$-1.56	$57,216,540	9 / 11
2026-08-06	$-1.42	$60,938,199	8 / 8
2026-08-08	$-1.42	$60,938,199	8 / 8
2026-08-09	$-1.42	$60,938,199	8 / 8
2026-08-10	$-1.42	$60,938,199	8 / 8
2026-08-12	$-1.42	$60,938,199	8 / 8
2026-08-13	$-1.33	$49,241,800	10 / 10
2026-08-14	$-1.42	$60,938,199	8 / 8
2026-08-15	$-1.42	$60,938,199	8 / 8
2026-08-16	$-1.42	$60,938,199	8 / 8
2026-08-17	$-1.42	$60,938,199	8 / 8
2026-08-18	$-1.42	$60,938,199	8 / 8
2026-08-19	$-1.42	$60,938,199	8 / 8
2026-08-20	$-1.31	$46,583,454	8 / 8
2026-08-21	$-1.31	$46,583,454	8 / 8
2026-08-22	$-1.31	$46,583,454	8 / 8
2026-08-23	$-1.31	$46,583,454	8 / 8
2026-08-24	$-1.31	$46,583,454	8 / 8
2026-08-25	$-1.31	$46,583,454	8 / 8
2026-08-26	$-1.31	$46,583,454	8 / 8
2026-08-27	$-1.31	$46,583,454	8 / 8
2026-08-28	$-1.31	$46,583,454	8 / 8
2026-08-29	$-1.31	$46,583,454	8 / 8
2026-08-30	$-1.31	$46,583,454	8 / 8
2026-08-31	$-1.31	$46,583,454	8 / 8
2026-09-01	$-1.31	$46,583,454	8 / 8
2026-09-02	$-1.31	$46,583,454	8 / 8
2026-09-03	$-1.31	$46,583,454	8 / 8
2026-09-04	$-1.31	$46,583,454	8 / 8
2026-09-05	$-1.31	$46,583,454	8 / 8
2026-09-06	$-1.31	$46,583,454	8 / 8
2026-09-07	$-1.31	$46,583,454	8 / 8
2026-09-08	$-1.31	$46,583,454	8 / 8
2026-09-09	$-1.31	$46,583,454	8 / 8
2026-09-10	$-1.31	$46,583,454	8 / 8
2026-09-11	$-1.31	$46,583,454	8 / 8
2026-09-12	$-1.31	$46,583,454	8 / 8
2026-09-13	$-1.31	$46,583,454	8 / 8
2026-09-14	$-1.31	$46,583,454	8 / 8
2026-09-15	$-1.31	$46,583,454	8 / 8
2026-09-16	$-1.31	$46,583,454	8 / 8
2026-09-17	$-1.31	$46,583,454	8 / 8
2026-09-18	$-1.31	$46,583,454	8 / 8
2026-09-19	$-1.31	$46,583,454	8 / 8
2026-09-20	$-1.31	$46,583,454	8 / 8
2026-09-21	$-1.31	$46,583,454	8 / 8
2026-09-22	$-1.31	$46,583,454	8 / 8
2026-09-23	$-1.31	$46,583,454	8 / 8
2026-09-24	$-1.31	$46,583,454	8 / 8
2026-09-25	$-1.31	$46,583,454	8 / 8
2026-09-26	$-1.31	$46,583,454	8 / 8
2026-09-27	$-1.31	$46,583,454	8 / 8
2026-09-28	$-1.31	$46,583,454	8 / 8
2026-09-29	$-1.31	$46,583,454	8 / 8
2026-09-30	$-1.31	$46,583,454	8 / 8
2026-10-01	$-1.31	$46,583,454	8 / 8
2026-10-02	$-1.31	$46,583,454	8 / 8
2026-10-03	$-1.31	$46,583,454	8 / 8
2026-10-04	$-1.31	$46,583,454	8 / 8
2026-10-05	$-1.31	$46,583,454	8 / 8
2026-10-06	$-1.31	$46,583,454	8 / 8
2026-10-07	$-1.31	$46,583,454	8 / 8
2026-10-08	$-1.31	$46,583,454	8 / 8
2026-10-09	$-1.31	$46,583,454	8 / 8
2026-10-10	$-1.31	$46,583,454	8 / 8
2026-10-11	$-1.31	$46,583,454	8 / 8
2026-10-12	$-1.31	$46,583,454	8 / 8
2026-10-13	$-1.31	$46,583,454	8 / 8
2026-10-14	$-1.31	$46,583,454	8 / 8
2026-10-15	$-1.31	$46,583,454	8 / 8
2026-10-16	$-1.31	$46,583,454	8 / 8
2026-10-17	$-1.31	$46,583,454	8 / 8
2026-10-18	$-1.31	$46,583,454	8 / 8
2026-10-19	$-1.31	$46,583,454	8 / 8
2026-10-20	$-1.31	$46,583,454	8 / 8
2026-10-21	$-1.31	$46,583,454	8 / 8
2026-10-22	$-1.31	$46,583,454	8 / 8
2026-10-23	$-1.31	$46,583,454	8 / 8
2026-10-24	$-1.31	$46,583,454	8 / 8

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings