In the drug development and collaboration complex, insiders have bought up a large amount of stock in is Furiex Pharmaceuticals ( FURX), whose product pipeline includes two marketed products and three programs in development, including late-stage compounds, in multiple therapeutic areas. Insiders are sniffing out some value here since the stock is off by around 40% in 2011. Furiex Pharmaceuticals has a market cap of $179.74 million and an enterprise value of $136.81 million. Its estimated growth rate for next year is 74.4%. This is a cash-rich company, with a total cash position of $54.81 million and total debt of just $10 million. After you back out the debt, Furiex's total cash comes to $44.81 million. A director and beneficial owner just bought 163,342 shares, or about $2.88 million worth of stock, at $17.50 to $17.65 per share. This same director also bought over $5.3 million worth of stock in November. From a technical standpoint, FURX is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong since its October low of $12.25 a share. During that uptrend, shares have been consistently making higher lows and higher highs, which is bullish. Traders should now watch for a near-term breakout to trigger if you're looking to play this for some quick profits. If you're bullish on FURX, I would get long once it breaks out above some overhead resistance at $18.50 and $19.26 on heavy volume. (Furiex shows up on a recent list of Stocks Rising on Unusual Volume.) Look for volume that's tracking in close to or above its three-month average action of 69,930 shares. I would then add to any long position once the stock breaks out again over $19.55 to $20 a share on high-volume. That $20 level is all the all-time high on this stock, so it should be considered very bullish once it's taken out with volume. This stock can also be bought on weakness back toward $17 a share. I would use a mental stop just below the 200-day at $16.09 if you buy off weakness, and simply use a mental stop a few percentage points below $18.50 if you buy off strength.