A Promising $5 Biotech Stock With Major Insider Buying
By Bret Jensen:M&A activity has declined significantly in the first half of the year. The one exception is in the biotech sector with Bristol-Myers Squibb's (BMY) $5.3B acquisition of Amylin Pharmaceuticals (AMLN). This is just latest purchase of a promising biotechnology company by a major pharma firm looking to fill its sparse future pipeline. BMY paid $31 a share to acquire Amylin, more than three times its price at the end of last year. My regular readers know I prefer to take a "shotgun" approach to biotech investing by taking lots of small positions in myriad promising firms. One biotech stock that had strong insider buying, Horizon Pharma (HZNP), I highlighted in May is up more than 75% since the article ran. A similar stock that has insiders making significant purchases recently is Amicus Therapeutics (FOLD)."Amicus Therapeutics a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally-administered, small moleculeComplete Story »
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