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.
Larimar Therapeutics Inc (NASDAQ:LRMR)
- On Nov. 5, Larimar Therapeutics posted a wider-than-expected quarterly loss. “We were pleased to recently share exciting long-term data from our open label study showing consistent directional improvement across four key clinical outcome measures relative to a Friedrich’s Ataxia Clinical Outcomes Measure Study (FACOMS) reference population, and increased skin frataxin (FXN) levels similar to asymptomatic carriers. These findings underscore the potential of daily nomlabofusp treatment to help change the disease course of patients living with Friedreich’s ataxia (FA), including those with advanced disease,” said Carole Ben-Maimon, MD, President, and Chief Executive Officer of Larimar. The company's stock fell around 20% over the past month and has a 52-week low of $1.61.
- RSI Value: 29.9
- LRMR Price Action: Shares of Larimar Therapeutics fell 12.1% to close at $3.12 on Tuesday.
- Edge Stock Ratings: 23.98 Momentum score.
Perrigo Company PLC (NYSE:PRGO)
- On Nov. 5, Perrigo reported mixed third-quarter financial results and cut its FY25 adjusted EPS guidance below estimates. President and CEO Patrick Lockwood-Taylor said, “While OTC consumption was increasingly soft in the third quarter, the Perrigo team delivered strong in-market performance. We gained dollar, unit and volume share in five of seven store brand categories and grew share in our key brands, a clear sign that consumers are choosing Perrigo products at the shelf. This performance, despite a challenging backdrop, reflects the strength of our Three-S plan (Stabilize, Streamline, Strengthen) and our commitment to delivering trusted, accessible health solutions across multiple price points.” The company's stock fell around 34% over the past month and has a 52-week low of $12.17.
- RSI Value: 29.9
- PRGO Price Action: Shares of Perrigo fell 1.7% to close at $13.61 on Tuesday.
- Benzinga Pro’s charting tool helped identify the trend in PRGO stock.
ORIC Pharmaceuticals Inc (NASDAQ:ORIC)
- On Nov. 20, Evercore ISI Group initiated coverage on the stock with an Outperform rating and announced a $25 price target. The company's stock fell around 16% over the past month and has a 52-week low of $3.90.
- RSI Value: 29.6
- ORIC Price Action: Shares of ORIC Pharmaceuticals fell 4.5% to close at $10.65 on Tuesday.
- Benzinga Pro’s signals feature notified of a potential breakout in ORIC shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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