Top 3 Health Care Stocks You May Want To Dump This Quarter
Portfolio Pulse from Avi Kapoor
As of July 30, 2024, three health care stocks—Verona Pharma (VRNA), Catalyst Pharmaceuticals (CPRX), and Viridian Therapeutics (VRDN)—are considered overbought based on their RSI values. Investors may want to reconsider holding these stocks in the short term.
July 30, 2024 | 2:13 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Catalyst Pharmaceuticals (CPRX) is overbought with an RSI of 70.99. The stock gained 11% over the past month. Recently entered an exclusive agreement with Kye Pharmaceuticals for AGAMREE® in Canada.
The high RSI value indicates that CPRX is overbought, suggesting a potential price correction. The new agreement may provide some support but is unlikely to offset the overbought condition.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Viridian Therapeutics (VRDN) is overbought with an RSI of 73.86. The stock gained 31% over the past month. Wedbush maintained an Outperform rating with a price target of $42.
The high RSI value indicates that VRDN is overbought, suggesting a potential price correction. The positive analyst rating may provide some support but is unlikely to offset the overbought condition.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Verona Pharma (VRNA) is considered overbought with an RSI of 71.29. The stock has gained 46% over the past month and is nearing its 52-week high. Financial results for Q2 will be reported on Aug. 8.
The high RSI value indicates that VRNA is overbought, suggesting a potential price correction. The upcoming financial results could also impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100