Anthera Pharmaceuticals

Another name in the biotechnology and drugs complex that insiders are active in here is Anthera Pharmaceuticals ( ANTH), which is focused on developing and commercializing products to treat serious diseases associated with inflammation, including cardiovascular and autoimmune diseases. Insiders are buying this stock into a steep decline, since shares are off by 39% during the last six months.

Anthera Pharmaceuticals has a market cap of $52 million and an enterprise value of $33 million. This stock trades at a premium valuation, with a price-to-book of 9.84. Its estimated growth rate for this year is 54.9%, and for next year it's pegged at 68.7%. This is a cash-rich company, since the total cash position on its balance sheet is $42.46 million and its total debt is $22.62 million. After you back out the debt, this company has $19.84 million in cash on its books.

A director just bought 1.8 million shares, or about $1.14 million worth of stock, at 65 cents per share.

From a technical perspective, ANTH is currently trending below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending over the last month, with shares dropping from its high of 84 cents to its recent low of 64 cents per share. During that downtrend, shares of ANTH have been mostly making lower highs and lower lows, which is bearish technical price action. That said, shares of ANTH have started to bounce off that 64 cents per share low and quickly moving within range of triggering a near-term breakout trade.

If you're in the bull camp on ANTH, then I would look for long-biased if this stock manages to break out above its 50-day at 68 cents per share and then once it clears more overhead resistance at 70 to 72 cents per share with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average volume of 1.6 million shares. If that breakout triggers soon, then ANTH will set up to re-test or possibly take out its next major overhead resistance levels at 80 to 84 cents per share. Any high-volume move above 84 cents per share will then put $1 to $1.17 into focus for shares of ANTH.

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