Oscar Health price target lowered to $18 from $25 at Piper Sandler

Piper Sandler lowered the firm’s price target on Oscar Health (OSCR) to $18 from $25 and keeps an Overweight rating on the shares. According to CBO estimates, the combined effects of provisions in the Patient Protection and Affordable Care Act Proposed Rule and the House reconciliation bill could reduce ACA marketplace enrollment by an incremental (4.0M) members; on top of the disenrollment projected to occur with the expiry of the enhanced premium tax credits on 12/31/25, the firm says. Piper believes CBO projections suggest that ACA marketplace enrollment could fall by (7.9M) members year-over-year in 2026 vs. the (3.9M) member projected impact of enhanced APTC expiry alone.