Top 5 Health Care Stocks That Should Keep You Up At Night

The most overbought stocks in the health care sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

Cerevel Therapeutics Holdings, Inc. CERE

Cerevel Therapeutics appointed Susan Altschuller, as Chief Financial Officer. The company’s stock has a 52-week high of $41.46 .
RSI Value: 71.46
CERE Price Action: Shares of Cerevel Therapeutics rose 4.7% to close at $34.00 on Monday.

Voyager Therapeutics, Inc. VYGR

Voyager Therapeutics reported a year-over-year increase in first-quarter EPS and sales results. “Voyager started 2023 by securing $175 million upfront in a strategic collaboration with Neurocrine Biosciences for our GBA1 gene therapy program and three new gene therapy programs, followed by Novartis’s decision to exercise options to our novel capsids for two neurologic disease targets, triggering another $25 million payment. These transactions have strengthened our balance sheet while maintaining long-term value and enabled us to further advance our platform and pipeline,” said Alfred W. Sandrock, Jr., M.D., Ph.D., Chief Executive Officer of Voyager. The company’s stock has a 52-week high of $14.34.
RSI Value: 75.45
VYGR Price Action: Shares of Voyager Therapeutics rose 5.2% to close at $13.85 on Monday.

Merit Medical Systems, Inc. MMSI

Merit Medical Systems posted upbeat first-quarter results. “We delivered 9.8% constant currency revenue growth in the first quarter of 2023, exceeding the high-end of our expectations, driven primarily by better-than-expected growth in both the U.S. and international markets during the month of March,” said Fred P. Lampropoulos, Merit’s Chairman and Chief Executive Officer. The company has a 52-week high of $85.39.
RSI Value: 71.82
MMSI Price Action: Shares of Merit Medical Systems fell 0.2% to close at $84.44 on Monday.

CTI BioPharma Corp. CTIC

Sobi announced it will acquire CTI BioPharma in a transaction worth $1.7 billion. The company’s 52-week high is $8.96.
RSI Value: 85.39
CTIC Price Action: Shares of CTI BioPharma fell 0.1% to close at $8.93 on Monday.

ACADIA Pharmaceuticals Inc. ACAD

ACADIA Pharmaceuticals posted a wider-than-expected quarterly loss. "We are excited with the recent approval and subsequent launch of DAYBUE, the first and only FDA-approved medicine for the treatment of Rett syndrome. We are executing on our launch strategy to bring this important new treatment to the Rett patient community, while remaining focused on delivering increasing profitability from our NUPLAZID franchise for Parkinson’s disease psychosis," said Steve Davis, Chief Executive Officer. The company has a 52-week high of $24.85.
RSI Value: 72.85
ACAD Price Action: Shares of ACADIA Pharmaceuticals rose 2% to settle at $24.80 on Monday.