Top 5 Health Care Stocks That May Rally

Author: Lisa Levin | February 03, 2023 01:35pm

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.

Third Harmonic Bio, Inc. (NASDAQ:THRD)

• Morgan Stanley recently downgraded Third Harmonic Bio from Overweight to Equal-Weight and lowered the price target from $34 to $5. The company’s stock has a 52-week low of $3.89 .
• RSI Value: 28.71
• THRD Price Action: Shares of Third Harmonic Bio gained 1.1% to trade at $4.50 on Friday.

AstraZeneca PLC (NASDAQ:AZN)

• US approved AstraZeneca, Amgen's Tezspire (tezepelumab) for self-administration in a pre-filled, single-use pen for patients 12 years and older with severe asthma. The company’s stock has a 52-week low of $52.65.
• RSI Value: 29.33
• AZN Price Action: Shares of AstraZeneca rose 0.3% to trade at $63.34 on Friday.

Pfizer Inc. (NYSE:PFE)

• Pfizer reported a Q4 adjusted EPS of $1.14, up 45% Y/Y, well ahead of the consensus of $1.05. The company’s stock has a 52-week low of $41.45.
• RSI Value: 28.78
• PFE Price Action: Shares of Pfizer fell 0.9% to trade at $43.97 on Friday.

Amgen Inc. (NASDAQ:AMGN)

• US approved AstraZeneca, Amgen's Tezspire (tezepelumab) for self-administration in a pre-filled, single-use pen for patients 12 years and older with severe asthma. The company’s 52-week low is $214.39.
• RSI Value: 23.51
• AMGN Price Action: Shares of Amgen fell 0.9% to trade at $244.30 on Friday.

1Life Healthcare, Inc. (NASDAQ:ONEM)

• 1Life Healthcare, during November, posted a Q3 loss of $0.57 per share. The company has a 52-week low of $5.94.
• RSI Value: 20.69
• ONEM Price Action: Shares of 1Life Healthcare dropped 3% to trade at $15.15 on Friday.

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Posted In: AMGN AZN ONEM PFE THRD