One name in the biotechnology and drugs sector where insiders have been very active in is Ligand Pharmaceuticals ( LGND). This is a biotechnology company that focuses on drug discovery and early-stage development of pharmaceuticals that address critical unmet medical needs or those that more effective and/or safer than existing therapies. This is a very interesting insider buy since an executive is paying up to own the stock with shares up over 70% so far in 2011. This company has a market cap of $301 million and an enterprise value of $317 million. This stock trades at a very rich valuation, since their trailing price-to-earnings is 250 and their forward price-to-earnings is 95. Ligand's estimated growth rate for this year is 214% and for next year it's pegged at -78.1%. This company has a bit more debt on their books than cash, since their total cash position is $13.44 million and total debt is $30.11 million. A director just bought 61,559 shares, or $805,350 worth of stock, between $12.54 and $14.21 per share. This same director has been steadily buying up shares of Ligand in August that now have totaled over $4 million worth of stock. From a technical standpoint, this is in a very strong uptrend with shares trading well above both its 50-day and 200-day moving averages. This stock has been displaying a very bullish pattern for all of this year with shares making higher highs and higher lows. This shows that large traders have been paying up to buy this stock anytime it has pulled back. The stock also recently broke out above some past resistance at $14.80 a share on big volume. If you're looking to buy this stock, I would let this name come in a bit since the relative strength index is over 70 which often times marks an overbought reading on any stock. Let this name pullback toward $14 or possible $13.50 a share before you jump in. If it doesn't pullback that much, then you could be a buyer as long as it holds above the key breakout level of $14.80.