Insiders are also buying up a large amount of stock in is Valeant Pharmaceuticals ( VRX), a multinational, specialty pharmaceutical company that develops, manufactures and markets a range of pharmaceutical products. Insiders are paying up here and buying into strength since shares are up big in 2011 by over 60%. Valeant Pharmaceuticals has a market cap of $14.40 billion and an enterprise value of $19.31 billion. This stock trades at a premium valuation, with a trailing price-to-earnings of 199.87. This is far from a cash-rich company, since the total cash position on its balance sheet is $257.53 million and its total debt is a whopping $5.23 billion. The CFO just bought 32,500 shares, or about $1.5 million worth of stock, at $46.05 to $46.26 per share. This same CFO also just bought 11,000 shares, or $515,020 worth of stock, at $46.82 per share. From a technical standpoint, VRX is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong since it hit a recent low of $32.05 in October. During that uptrend, shares of VRX have been consistently making higher highs and higher lows, which is bullish price action. Now traders should watch for a big breakout to trigger if VRX can move above some near-term overhead resistance levels. If you're interested in VRX from the long side, then I would look add some stock once it breaks out above $47.58 on high volume. Look for volume that's tracking in close to or above its three-month average action of 2.45 million shares on any future breakout. I would simply use a mental stop a few percentage points below the breakout level if you get long off strength. Target a big run on this stock back toward $56 to $57 a share if we get that high-volume breakout in the coming days or weeks. Valeant is one of the top holdings of Julian Robertson's Tiger Management, and it comprises 5.7% of Blue Ridge Capital's portfolio.