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5 Stocks Insiders Are Scooping Up

Ligand Pharmaceuticals

Another biotechnology and drugs player that insiders are buying up a decent amount of stock in is Ligand Pharmaceuticals (LGND - Get Report), which is focused on drug discovery and early-stage development of pharmaceuticals. Insiders are buying this stock into some notable strength, since shares are up 30% in the last three months.

Ligand Pharmaceuticals has a market cap of $398 million and an enterprise value of $423 million. This stock trades at a premium valuation, with a trailing price-to-earnings of 137.66 and a forward price-to-earnings of 51.18. Its estimated growth rate for this year is -88.5%, and for next year it's pegged at 550%. This is not a cash-rich company, since the total cash position on its balance sheet is $7.05 million and its total debt is $28.15 million.

A beneficial owner just bought 39,600 shares, or about $783,000 worth of stock, at $19.78 per share.

From a technical perspective, LGND is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last three months, with shares soaring from its low of $14.75 a share to its recent high of $21.75 a share. During that uptrend, shares of LGND have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of LGND have recently sold off from that $21.75 high and moved back towards its 50-day moving average of $19.83 a share.

Traders who are bullish on LGND should now look for long-biased trades as long as it's trending above some key near-term support at $19.03, and then once it manages to break out above some near-term overhead resistance levels at $20.99 to $21.75 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 153,792 shares. If that breakout hits soon, then LGND will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $25 to $27 a share.

Natural Resource Partners

One coal player that insiders are jumping into big here is Natural Resource Partners (NRP - Get Report), which is engaged mainly in the business of owning and managing coal properties in the three coal-producing regions of the U.S.: Appalachia, the Illinois Basin and the Western U.S. Insiders are buying this stock into modest strength, since shares are up 3.6% in the last three months.
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ANTH $2.71 10.00%
HBAN $8.44 0.36%
KRO $4.62 -1.60%
LGND $89.39 0.68%
NRP $0.99 -0.89%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

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