Moderna shares rally after addition to Nasdaq 100; BofA raises price objective
MRNA•Moderna shares rose about 12% to $220 after the company was added to the Nasdaq 100. BofA raised its price objective to $200 from $170 while maintaining a neutral rating.
1. Nasdaq 100 addition
Moderna shares rose about 12% on Friday after the company joined the Nasdaq 100, reaching their highest level since January 2022. The stock had closed Thursday at $197.
2. BofA raises objective
BofA raised its price objective to $200 from $170, maintaining a neutral rating. Analysts cited slightly lower U.S. COVID revenue expectations, offset by higher 2027 flu sales and increased expectations for the price and later-year ramp of intismeran, Moderna’s cancer vaccine developed with Merck. They noted that substantial value for intismeran is already priced into the stock ahead of an oncology conference and upcoming data readouts.
3. Forecasts and performance
BofA expects Moderna’s third-quarter results after its October 24 presentation at the ESMO oncology conference to matter less, but is looking for execution against guidance of up to 10% revenue growth in 2026 and a year-end cash balance of $4.7 billion to $5.2 billion. Its estimates for third-quarter prophylactic vaccine revenue of $812 million and total revenue of $848 million are below consensus. Moderna shares are up about 650% year to date, while the S&P 500 healthcare index is up 10.3% so far in 2026.
