Oscar Health (OSCR) Falters on UBS' "Sell" Reco

We recently published These 10 Stocks Just Lost Their Spark. Oscar Health, Inc. (NYSE:OSCR) is one of the worst-performing companies on Thursday.

Oscar Health fell by 9.64 percent on Thursday to close at $13.87 apiece as investor sentiment was dampened by analysts’ pessimistic views about the insurance industry.

In a market note recently, investment firm UBS recommended investors to sell their shares in Oscar Health, Inc. (NYSE:OSCR), a revision from the “neutral” stance previously amid the growing instability of the Affordable Care Act.

The brokerage firm also lowered its price target for the stock to $11 from $15 previously, marking a 20.7 percent downside from its latest closing price.

According to UBS, it now expects enrollments to its programs to drop by 30 percent next year, worse than its previous estimate of 18 percent.

Further dampening sentiment, insurance counterpart Elevance Health reported a 24.2-percent drop in net income during the second quarter of the year, while another insurance firm, Centene Corp., withdrew its 2025 earnings forecast earlier this month due to an expected slump in its revenues from commercial plans under the ACA or Obamacare.

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Disclosure: None. This article is originally published at Insider Monkey.