The most oversold stocks in the health care sector presents an opportunity to buy into undervalued 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 oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Tricida, Inc. TCDA
- The company’s stock dropped around 98% over the past six months. The company’s stock has a 52-week low of $0.13 .
- RSI Value: 28.21
- TCDA Price Action: Shares of Tricida fell 9.1% to settle at $0.1681 on Thursday and added 1.7% in today’s pre-market trading.
Baxter International Inc. BAX
- Wells Fargo maintained Baxter Intl with an Equal-Weight and lowered the price target from $57 to $52. The company’s stock has a 52-week low of $44.47.
- RSI Value: 29.64
- BAX Price Action: Shares of Baxter International fell 0.8% to close at $45.09 on Thursday and lost 9.7% in today’s pre-market trading.
Vera Therapeutics, Inc. VERA
- Vera Therapeutics announced topline results of the Phase 2b ORIGIN clinical trial of atacicept for the treatment of IgA nephropathy. The company’s stock has a 52-week low of $5.20.
- RSI Value: 20.51
- VERA Price Action: Shares of Vera Therapeutics rose 1.9% to close at $6.02 on Thursday and lost 0.8% in today’s pre-market trading.
Third Harmonic Bio, Inc. THRD
- Morgan Stanley, last month, downgraded Third Harmonic Bio from Overweight to Equal-Weight and lowered the price target from $34 to $5. The company’s 52-week low is $3.89.
- RSI Value: 24.97
- THRD Price Action: Shares of Third Harmonic Bio gained 3.5% to close at $4.49 on Thursday and added 1.6% in after-hours trading.
Cutera, Inc. CUTR
- Maxim Group maintained Cutera with a Buy and lowered the price target from $80 to $55. The company has a 52-week low of $26.51.
- RSI Value: 20.03
- CUTR Price Action: Shares of Cutera rose 3.8% to close at $28.84 on Thursday and added 2.6% in pre-market trading.
Read More: Fear & Greed Index Moves To 'Greed' Zone Following Inflation Report
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Long IdeasNewsPenny StocksHealth CareSmall CapPre-Market OutlookMarketsTrading IdeasGeneralcheapest stocksOVERSOLD