As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
On Wednesday, Eagle Pharmaceuticals (NASDAQ:EGRX)'s Director, Douglas L. Braunstein, made a $1.00M purchase of EGRX, buying 20,400 shares at a cost of $49.07 each. Braunstein was up about 15.0% on the buy at the high point of today's trading session, with EGRX trading as high as $56.42 at last check today. Eagle Pharmaceuticals is trading up about 1.2% on the day Monday.
And on Friday, Director Jonathan M. Glaser purchased $797,670 worth of Hudson Pacific Properties (NYSE:HPP), purchasing 25,000 shares at a cost of $31.91 each. Before this latest buy, Glaser made one other buy in the past twelve months, purchasing $335,800 shares at a cost of $33.58 a piece. Hudson Pacific Properties is trading up about 1.9% on the day Monday. Glaser was up about 2.0% on the buy at the high point of today's trading session, with HPP trading as high as $32.55 at last check today.
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