Top 3 Health Care Stocks Which Could Rescue Your Portfolio This Month

Author: Avi Kapoor | August 27, 2024 08:54am

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, according to Benzinga Pro.

Here's the latest list of major oversold players in this sector, having an RSI near or below 30.

Agilon Health Inc (NYSE:AGL)

• On Aug. 6, Agilon Health reported worse-than-expected second-quarter revenue results and issued FY24 revenue guidance below estimates. “Our second quarter results were in-line with our guidance, and we are maintaining medical margin and Adjusted EBITDA guidance for the full year,” said Steve Sell, chief executive officer. The company's stock fell around 37% over the past month and has a 52-week low of $4.38.
• RSI Value: 27.10
• AGL Price Action: Shares of Agilon Health fell 2.2% to close at $4.38 on Monday.
• Benzinga Pro's real-time newsfeed alerted to latest AGL news.

Verrica Pharmaceuticals Inc (NASDAQ:VRCA)

• On Aug. 14, Verrica Pharmaceuticals reported better-than-expected second-quarter financial results. The company also released preliminary results from Part 2 of its Phase 2 trial of VP-315 for basal cell carcinoma. The company's stock fell around 64% over the past month. It has a 52-week low of $2.53.
• RSI Value: 19.52
• VRCA Price Action: Shares of Verrica Pharmaceuticals fell 8.9% to close at $2.57 on Monday.
• Benzinga Pro’s charting tool helped identify the trend in VRCA stock.

ALX Oncology Holdings Inc (NASDAQ:ALXO)

• On Aug. 8, ALX Oncology posted a narrower-than-expected quarterly loss. “Our team continues to make significant progress in the advancement of our evorpacept development pipeline across multiple oncology indications,” said Jason Lettmann, Chief Executive Officer of ALX Oncology. The company's shares fell around 56% over the past month and has a 52-week low of $2.30.
• RSI Value: 28.48
• ALXO Price Action: Shares of ALX Oncology gained 7.5% to close at $2.57 on Monday.
• Benzinga Pro’s signals feature notified of a potential breakout in ALXO shares.

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Posted In: AGL ALXO VRCA