This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Stocks Insiders Are Snapping Up

A director just bought 37,750 shares, or about $500,000 worth of stock, at $13.25 per share.

From a technical perspective, IGT is currently trending above its 50-day moving average and just below its 200-day moving average, which is neutral trendwise. This stock has been trending sideways for the last two months and change, with shares moving between $12 on the downside and $13.85 on the upside. A high-volume move outside of that range will likely lead to the next major trend for shares of IGT.

If you're bullish on IGT, then I would look for long-biased trades once this stock manages to break out above some near-term overhead resistance levels at $13.85 to its 200-day at $14.06 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 4,015,040 shares. If that breakout triggers soon, then IGT will set up to re-test or possibly take out its next major overhead resistance levels at $15.67 to $16 a share.

Corcept Therapeutics

Another name that insiders are warming up to here is Corcept Therapeutics (CORT). This is a pharmaceutical company, engaged in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders. Insiders are buying this stock into some extreme weakness, since shares are down by close to 60% so far in 2012.

Corcept Therapeutics has a market cap of $137.74 million and an enterprise value $67.99 million. This stock trades at a premium valuation, with a price-to-sales of 71.89 and a price-to-book of 1.94. Its estimated growth rate for this year is 7.7%, and for next year it's pegged at 19.4%. This is a cash-rich company, since the total cash position on its balance sheet is $101.63 million and its total debt is $30.58 million.

A director just bought 179,000 shares, or about $248,000 worth of stock, at $1.38 to $1.40 per share.

From a technical perspective, CORT is currently trending well below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending badly for the last six months, with shares plunging from a high of $4.51 to a recent low of $1.27 a share. During that downtrend, shares of CORT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of CORT have started to stabilize around $1.28 to $1.27 a share and it's moving within range of triggering a near-term breakout trade.

4 of 6

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,031.14 +43.63 0.26%
S&P 500 1,984.13 -1.41 -0.07%
NASDAQ 4,518.9020 -48.6960 -1.07%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs