Moderna (MRNA), TG Therapeutics (TGTX), and Agios Pharmaceuticals (AGIO) will see increased scrutiny during their upcoming Q2 results on ongoing drug launches after their outperformance year to date, BofA Securities said in a note Tuesday.

The investment firm said that "beyond topline sales growth, pipeline/regulatory catalysts" will likely drive the H2 debate for the three companies.

For Moderna, BofA sees "limited fireworks from the 2Q print given prior revenue guidance" and a "wealth of recent pipeline updates."

The investment firm said it raised the company's 2026 and outer-year revenue estimates and made other adjustments, which led to an increased price objective of $38 from $34 previously. BofA reiterated Moderna's Underperform rating.

For TG Therapeutics, BofA said the company's Q2 results "should again center on whether Briumvi can keep outpacing already-raised expectations."

Also, TG Therapeutics' comments on operating expenses will be important after the company's Q1 results showed "meaningful sequential increases" in research and development as well as selling, general and administrative expenses, the note said.

BofA increased its outer-year Briumvi estimates to "reflect greater franchise stability following recent updates." The investment firm raised TG Therapeutics' price objective to $20 from $17 and reiterated the company's Underperform rating.

For Agios Pharmaceuticals, BofA said that the company-compiled consensus of $26.9 million seems "achievable" after Q1 worldwide mitapivat revenue of $20.7 million, but "conversion from prescriptions to paid revenue remains a key question given patient assistance and reimbursement noise early in launch."

BofA lifted Agios' price objective to $46 from $40 and reiterated the company's Buy rating.

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