The CEO and chairman of the board just
bought 40,000,000 shares, or about $103.6 million worth of stock, at $2.59 per share.
From a technical perspective, MNKD is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strongly for the last two months, with shares moving higher from a low of $1.82 to its recent high of $2.28 a share.
During that uptrend, shares of MNKD have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed MNKD within range of triggering a major breakout trade.
If you're bullish on MNKD, then I would look for long-biased trades if this stock manages to break out above some near-term overhead resistance at $2.28 a share with high volume. Look for a sustained move or close above $2.28 a share with volume that registers near or above its three-month average action of 2,607,240 shares. If that breakout triggers soon, then MNKD will set up to re-fill some of its previous gap down zone from October that started at $2.67 a share. Any high-volume move above $2.67 will then put $2.88 to $2.94 into focus for shares of MNKD.
One specialty pharmaceutical player that insiders are jumping into here is
. This company is focused on acquiring, developing and commercializing proprietary products that address the needs of patients treated by gastroenterologists and other targeted physicians. Insiders are buying this stock into notable strength, since shares are up by 54% during the last six months.
Santarus has a market cap of $685 million and an enterprise value $625 million. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 48.92 and a forward price-to-earnings of 14.29. Its estimated growth rate for this year is 200%, and for next year it's pegged at 261.9%. This is a cash-rich company, since the total cash position on its balance sheet is $81.93 million and its total debt is $9.86 million.
A director just
bought 185,000 shares, or around $2.01 million worth of stock, at $10.88 per share.
From a technical perspective, SNTS is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strongly for the last five months, with shares soaring from a low of $4.82 to its recent high of $11.76 a share. During that uptrend, shares of SNTS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed SNTS within range of triggering a major breakout trade.