On September 17, Oscar Health, Inc. rose 5.41% in regular trading, trading at $34.065 per share, with turnover of $44.78 million. The stock continued to rally on the back of policy tailwinds from the White House proposal to extend Affordable Care Act subsidies by two years.

The proposed ACA subsidy extension directly benefits Oscar Health, Inc., which offers health plans through the ACA marketplace. The policy catalyst had previously driven shares up more than 20% in a single session, and the current move reflects a continuation of that momentum. Meanwhile, BofA Securities raised its price target on the stock to $30 from $28 while maintaining an Underperform rating, and the analyst consensus mean target stands at $34.64.

Fundamentally, Oscar Health, Inc. reported strong Q2 results, with revenue of $4.88 billion surpassing the $4.75 billion estimate and EPS of $1.10 far exceeding the $0.49 consensus. Total membership surged 46% year-over-year to 2.963 million. The company reaffirmed full-year revenue guidance of $18.7 billion to $19.0 billion, above analyst expectations. However, management cautioned that ACA membership churn could accelerate in the second half.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)