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One final name with some large insider buying is
ACCL), which develops and commercializes scientific business intelligence software and solutions that enable its customers to accelerate the discovery and development of new drugs and materials. Insiders are buying this stock into modest strength, since shares are up 7.9% so far in 2013.
Accelrys has a market cap of $542 million and an enterprise value of $404 million. This stock trades at a premium valuation, with a trailing price-to-earnings of 85.70 and a forward price-to-earnings of 25.71. Its estimated growth rate for this year is -8.6%, and for next year it's pegged at 18.8%. This is a cash-rich company, since the total cash position on its balance sheet is $130.84 million and its total debt is zero.
A beneficial owner just
bought 200,000 shares, or about $1.88 million worth of stock, at $9.40 per share.
From a technical perspective, ACCL 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 five months, with shares moving higher from its low of 8.03 to its recent high of $10 a share. During that uptrend, shares of ACCL have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ACCL within range of triggering a big breakout trade.
If you're bullish on ACCL, then look for long-biased trades as long as this stock is trending above its 50-day at $9.43 or its 200-day at $9.19 and then once it breaks out above some near-term overhead resistance at $9.90 a share to its 52-week high at $10 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 121,560 shares. If that breakout triggers soon, then ACCL will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $13 to $15 a share.
To see more stocks with notable insider buying, check out the
Stocks With Big Insider Buying portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.