The Voyager Therapeutics, Inc. (NASDAQ:VYGR) Second-Quarter Results Are Out And Analysts Have Published New Forecasts

It's been a good week for Voyager Therapeutics, Inc. (NASDAQ:VYGR) shareholders, because the company has just released its latest quarterly results, and the shares gained 7.9% to US$3.27. Statutory results overall were mixed, with revenues coming in 31% lower than the analysts predicted. What's really surprising is that losses of US$0.40 per share were 20% smaller than what was predicted. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Voyager Therapeutics after the latest results.

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Following the latest results, Voyager Therapeutics' six analysts are now forecasting revenues of US$46.0m in 2026. This would be a sizeable 33% improvement in revenue compared to the last 12 months. Losses are expected to increase slightly, to US$1.87 per share. Before this latest report, the consensus had been expecting revenues of US$39.3m and US$1.61 per share in losses. Ergo, there's been a clear change in sentiment, with the analysts lifting this year's revenue estimates, while at the same time increasing their loss per share numbers to reflect the cost of achieving this growth.

See our latest analysis for Voyager Therapeutics

There was no major change to the consensus price target of US$14.89, with growing revenues seemingly enough to offset the concern of growing losses. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Voyager Therapeutics analyst has a price target of US$25.00 per share, while the most pessimistic values it at US$8.00. We would probably assign less value to the analyst forecasts in this situation, because such a wide range of estimates could imply that the future of this business is difficult to value accurately. As a result it might not be a great idea to make decisions based on the consensus price target, which is after all just an average of this wide range of estimates.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Voyager Therapeutics' past performance and to peers in the same industry. For example, we noticed that Voyager Therapeutics' rate of growth is expected to accelerate meaningfully, with revenues forecast to exhibit 78% growth to the end of 2026 on an annualised basis. That is well above its historical decline of 4.5% a year over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in the industry are forecast to see their revenue grow 23% per year. So it looks like Voyager Therapeutics is expected to grow faster than its competitors, at least for a while.

The Bottom Line

The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Voyager Therapeutics. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have forecasts for Voyager Therapeutics going out to 2028, and you can see them free on our platform here.

Even so, be aware that Voyager Therapeutics is showing 3 warning signs in our investment analysis , and 2 of those are a bit unpleasant...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.