Top 3 Health Care Stocks You May Want To Dump This Quarter

As of July 30, 2024, three stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.

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

Verona Pharma PLC – ADR VRNA

• Verona Pharma will report its financial results for the second quarter on Thursday, Aug. 8. The company's stock gained around 46% over the past month and has a 52-week high of $23.72.
• RSI Value: 71.29                              
• VRNA Price Action: Shares of Verona Pharma fell 0.5% to close at $22.61 on Monday.

Catalyst Pharmaceuticals Inc CPRX

• On July 24, Catalyst Pharmaceuticals entered into an exclusive license, supply and commercialization agreement with Kye Pharmaceuticals for AGAMREE® in Canada. “We are pleased to enter into this agreement with Kye Pharmaceuticals for AGAMREE, marking a pivotal milestone in our strategic initiative to expand the product’s footprint in North America. This collaboration leverages our combined expertise, fortifies our alliance by licensing our second therapeutic rare disease product for Canada, and demonstrates our sustained commitment to patient care,” stated Richard J. Daly, CEO and President of Catalyst. The company's stock gained around 11% over the past month and has a 52-week high of $17.99.
• RSI Value: 70.99
• CPRX Price Action: Shares of Catalyst Pharmaceuticals fell 0.6% to close at $17.48 on Monday.

Viridian Therapeutics Inc VRDN

• On July 29, Wedbush maintained an Outperform rating on the stock and reiterated its price target of $42. The company's stock gained around 31% over the past month and has a 52-week high of $24.18.
• RSI Value: 73.86
• VRDN Price Action: Shares of Viridian Therapeutics gained 3.8% to close at $17.29 on Monday.

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