Oscar Health (OSCR) Nears 52-Week High on Pharma Tariff Pause

We recently published 10 Stocks With Eye-Popping Double-Digit Gains. Oscar Health Inc. (NYSE:OSCR) is one of the top performers on Friday.

Oscar Health extended its rally to a second day on Friday to come close to its 52-week high, as investors cheered President Donald Trump’s decision to pause the imposition of a 100 percent tariff on pharmaceutical imports.

During the session, the stock touched its highest day price of $21.71, just shy of its 52-week high of $22.78, before finishing the day up by 12.34 percent at $21.66.

Earlier this week, Trump decided to delay the levies on pharmaceutical imports as the government continues to engage in talks with giant drugmakers to lower their prescription drug prices to Americans and make them in line with other developed countries. The decision offered a significant relief to Oscar Health Inc. (NYSE:OSCR) and its insurance counterparts, as it would spare them from immediately raising their premiums and absorbing hefty drug costs as a result of the tariff.

Additionally, pharmaceutical companies’ commitments to the US government to invest in manufacturing facilities in the country would ease pricing pressures over time and help Oscar Health Inc. (NYSE:OSCR) keep its insurance plans affordable to customers.

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