Opportunity Knocks: Oversold Stocks in Healthcare Sector

Investors are keeping an eye on healthcare stocks that may be undervalued and ripe for investment.

The Relative Strength Index (RSI) serves as a valuable momentum indicator by comparing a stock’s performance on days it rises to when it falls. A stock is generally deemed oversold when its RSI drops below 30, according to Benzinga Pro.

Here are key oversold stocks within the healthcare industry, each with an RSI around or below 30.

Silence Therapeutics PLC – ADR SLN

• On Nov. 14, Silence Therapeutics reported a quarterly loss of 75 cents per share, significantly worse than the year-ago loss of 9 cents per share. The company generated $1.49 million in sales. Craig Tooman, President and CEO, stated, “The Silence team is focused on continued execution across the business.” The stock plummeted approximately 37% over the last five days, reaching a 52-week low of $9.22.
• RSI Value: 12.10
• SLN Price Action: Shares of Silence Therapeutics dropped 13.2%, closing at $11.02 on Monday.
• Benzinga Pro’s real-time newsfeed provided updates on the latest SLN news.

Terns Pharmaceuticals Inc TERN

• On Nov. 12, Terns Pharmaceuticals reported a third-quarter loss of 28 cents per share, better than the market estimate of a 34-cent loss. Amy Burroughs, CEO, said their results from the Phase 1 study of TERN-601 were promising for treating obesity. The stock price decreased around 22% recently, hitting a 52-week low of $3.59.
• RSI Value: 26.34
• TERN Price Action: Shares of Terns Pharmaceuticals fell 7.6%, closing at $5.70 on Monday.
• Benzinga Pro’s charting tool has been instrumental in tracking TERN’s stock trend.

Amarin Corporation plc AMRN

• On Oct. 30, Amarin reported a quarterly loss of 6 cents per share, exceeding market expectations of a 5-cent loss. President and CEO Aaron Berg discussed their strategy to maximize the value of their product, VASCEPA/VAZKEPA. Recently, their stock price has decreased by about 16%, hitting a 52-week low of $0.46.
• RSI Value: 25.86
• AMRN Price Action: Shares of Amarin fell 7%, closing at $0.46 on Monday.
• Benzinga Pro’s signals suggested potential for a breakout in AMRN shares.

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