Universal Health Services, Madrigal Pharmaceuticals And These Overbought Majors In The Healthcare Sector

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The most overbought stocks in the healthcare sector presents an opportunity to go short on these overvalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

Horizon Therapeutics Public Limited Company HZNP

  • Horizon Therapeutics said that the Brazilian Health Regulatory Agency has approved UPLIZNA as a monotherapy for the treatment of adult patients with NMOSD who are AQP4-IgG+. The company’s stock has a 52-week high of $117.49 .
  • RSI Value: 80.48
  • HZNP Price Action: Shares of Horizon Therapeutics gained 0.1% to settle at $113.11 on Thursday, but lost 0.1% in the after-hours trading session.


Universal Health Services, Inc. UHS

  • B of A Securities recently upgraded Universal Health Services from Underperform to Neutral and raised the price target from $120 to $145. The company’s stock has a 52-week high of $158.28.
  • RSI Value: 74.47
  • UHS Price Action: Shares of Universal Health Services dropped 0.7% to close at $140.99 on Thursday, and fell 0.1% in the after-hours trading session.


Prometheus Biosciences, Inc. RXDX

  • Prometheus Biosciences recently priced a public upsized $500 million offering. The company has a 52-week high of $117.73.
  • RSI Value: 75.27
  • RXDX Price Action: Shares of Prometheus Biosciences fell 0.4% to close at $110.00 on Thursday and dropped 4.6% in after-hours trading.

Read Next: Why Fear Level Among US Investors Is Increasing

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Madrigal Pharmaceuticals, Inc. MDGL

  • Madrigal Pharmaceuticals announced $300 million in financing events to advance resmetirom program. The company’s 52-week high is $315.44.
  • RSI Value: 91.79
  • MDGL Price Action: Shares of Madrigal Pharmaceuticals fell 0.8% to close at $287.08 on Thursday and lost 2% in today’s pre-market trading.


Immunovant, Inc. IMVT

  • Immunovant, last month, posted a Q2 loss of $0.41 per share. The company has a 52-week high of $17.16.
  • RSI Value: 74.17
  • IMVT Price Action: Shares of Immunovant fell 0.7% to settle at $16.65 on Thursday and added 4.9% in after-hours trading.
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