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By David Powers

Below is a list of seven companies in the healthcare sector whose stock are recently rapidly approaching oversold territory and are either potentially due for a short-term bounce or are quite possibly at the beginning of short-to-mid term bullish reversals.

1. Eli Lilly and Company (LLY) RSI: 52.69

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Eli Lilly and Company discovers, develops, manufactures and sells products in one business segment, pharmaceutical products. It also has an animal health business segment. It manufactures and distributes its products through facilities in the U.S., Puerto Rico and 17 other countries. Its products are sold in approximately 125 countries. Its portfolio consists of neuroscience products, endocrinology products, oncology products, cardiovascular products, animal health products and other pharmaceuticals.

The company currently has 1.16 billion shares out and its stock trades at $39.26, giving it a market cap of $45.45B. The stock's average daily trading volume is 8.51 million. Shares of Eli Lilly are currently trading 6.59% below their 52-week high of $42.03. Institutional ownership stands at about 74% and, as of 01/31/12, the total short interest was 15.32M shares. Its book value, per share, is $13.52 (mrq).

Average analyst 12 month price target: $38

2. Antares Pharma (AIS) RSI: 56.80

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Antares is a revenue-generating, product-focused, specialty pharmaceutical company that has developed three proprietary platforms, two of which now include FDA approved products. Its products typically improve safety and efficacy profiles by minimizing dosing and reducing side effects while improving patient compliance. Its focus is on self-injection pharmaceutical products and technologies and topical gel-based products. Its subcutaneous injection technology platforms include Vibex disposable pressure-assisted auto injectors, vision reusable needle-free injectors, and disposable multi-use pen injectors.

The company currently has 103.51M shares out and its stock trades at $2.58, giving it a market cap of $267.06M. The stock's average daily trading volume is 1.09M. Shares of Antares are currently trading 10.42% below their 52-week high of $2.88. Institutional ownership stands at about 38% and, as of 01/31/12, the total short interest was 8.17M shares. Its book value, per share, is $0.30 (mrq).

Average analyst 12 month price target: $3.50

3. Medtronic, Inc. (MDT) RSI: 55.46

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Medtronic is a medical technology company that is engaged in research, design, manufacture and sale of products to alleviate pain, restore health and extend life. It manufactures and sells device-based medical therapies and operates in two segments: Cardiac and Vascular Group which includes, Cardiac Rhythm Disease Management, CardioVascular, Physio-Control, and Restorative Therapies Group which include Spinal, Neuromodulation, Diabetes and Surgical Technologies.

The company currently has 1.06B shares out and its stock trades at $39.94, giving it a market cap of $42.15B. The stock's average daily trading volume is 5.61M. Shares of Medtronic are currently trading 7.82% below their 52-week high of $43.33. Institutional ownership stands at about 78% and, as of 01/31/12, the total short interest was 15.60M shares. Its book value, per share, is $15.86 (mrq).

Average analyst 12 month price target: $40.50

4. VIVUS, Inc. (VVUS) RSI: 51.25

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Vivus is a biopharmaceutical company developing innovative, next-generation therapies to address unmet needs in obesity, diabetes, obstructive sleep apnea and sexual health. The company's lead product in clinical development, Qnexa, is a proprietary once-a-day oral controlled release formulation of low dose phentermine and topiramate.

It currently has 88.88M shares out and its stock trades at $11.99, giving it a market cap of $1.07B. The stock's average daily trading volume is 2.46M. Shares of Medtronic are currently trading 9.03% below their 52-week high of $13.18. Institutional ownership stands at about 79% and, as of 01/31/12, the total short interest was 15.60M shares. Its book value, per share, is $1.69 (mrq).

Average analyst 12 month price target: $12.25

5. Cytori Therapeutics, Inc. (CYTX) RSI: 55.37

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Cytori Therapeutics is a company committed to improve the quality of patients' lives and provide physicians around the world with innovative, regenerative medicine-based products that are directed toward serving unmet medical needs. It is a global leader in regenerative medicine, discovering, developing, manufacturing, and commercializing innovative, high-quality health care technologies and products, which provide real-time, point-of-care access to clinical grade regenerative cells.

The company currently has 55.33M shares out and its stock trades at $3.56, giving it a market cap of $196.99M. The stock's average daily trading volume is 610k. Shares of Cytori are currently trading 57.82% below their 52-week high of $8.44. Institutional ownership stands at about 19% and, as of 01/31/12, the total short interest was 7.85M shares. Its book value, per share, is $0.22 (mrq).

Average analyst 12 month price target: $5

6. BioScrip, Inc. (BIOS) RSI: 60.78

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BioScrip is a leading provider in comprehensive, cost-effective pharmaceutical and homecare solutions. It partners with healthcare payors, pharmaceutical manufacturers, government agencies, physicians and patients to deliver affordable healthcare medications, programs and home health services to enhance the quality of life.

The company currently has 57.63M shares out and its stock trades at $6.51, giving it a market cap of $375.19M. The stock's average daily trading volume is 323.5k. Shares of BioScrip are currently trading 17.07% below their 52-week high of $7.85. Institutional ownership stands at about 82% and, as of 01/31/12, the total short interest was 2.06M shares. Its book value, per share, is $3.78 (mrq).

Average analyst 12 month price target: $9.67

7. Sangamo BioSciences, Inc. (SGMO) RSI: 60.78

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Sangamo is a clinical stage biopharmaceutical company focused on the research, development and commercialization of engineered DNA-binding proteins for the development of novel therapeutic strategies for unmet medical needs.

The company currently has 52.47M shares out and its stock trades at $5.33, giving it a market cap of $279.68. The stock's average daily trading volume is 392k. Shares of Sangamo are currently trading 41.75% below their 52-week high of $7.85. Institutional ownership stands at about 41% and, as of 01/31/12, the total short interest was 4.32M shares. Its book value, per share, is $1.60 (mrq). It should be noted that Sangamo jumped by nearly 27% on Friday.

Average analyst 12 month price target: $7.50

Source: 7 Stocks In The Healthcare Space Reversing Their Short-Term Bearish Trends