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If you're interested in biotech space, then the following list might offer an interesting starting point for your own analysis.

We wanted to find biotechnology stocks with bullish indicators. To do so, we narrowed down our universe of biotech stocks to those meeting all of the following criteria:

- Net insider buying over the last 6 months
- Undervalued relative to analyst target price
- Market cap over $300M

We were left with the 10 names detailed below. (Click here to access an interactive list snapshot of all stocks mentioned below.)

Insiders and analysts seem to think these stocks have some value to price in. Do you agree? Use the list below as a starting-off point for your own analysis.

1. MannKind Corp. (NASDAQ:MNKD): Biotechnology Industry. Market cap of $526.68M. Current price at $4.1 vs. target price of $10.35 (implies a potential upside of 152.44%). Net insiders purchases over the last 6 months was 3.48M shares, which represents 4.39% of the 79.17M share float. The stock is a short squeeze candidate, with a short float at 29.62% (equivalent to 21.11 days of average volume). The stock has had a couple of great days, gaining 5.77% over the last week.

2. Chelsea Therapeutics International Ltd. (NASDAQ:CHTP): Biotechnology Industry. Market cap of $330.28M. Current price at $5.12 vs. target price of $10.5 (implies a potential upside of 105.08%). Net insiders purchases over the last 6 months is 20,250 shares, which represents 0.04% of the 48.44M share float. The stock is a short squeeze candidate, with a short float at 7.8% (equivalent to 6.67 days of average volume). The stock has had a couple of great days, gaining 8.98% over the last week.

3. Corcept Therapeutics Inc. (NASDAQ:CORT): Biotechnology Industry. Market cap of $375.35M. Current price at $4.45 vs. target price of $6.93 (implies a potential upside of 55.73%). Net insiders purchases over the last 6 months is 556,900 shares, which represents 1.1% of the 50.44M share float. The stock has gained 30.32% over the last year.

4. ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP): Biotechnology Industry. Market cap of $407.33M. Current price at $6 vs. target price of $9.17 (implies a potential upside of 52.83%). Net insiders purchases over the last 6 months is 4.3M shares, which represents 8.21% of the 52.80M share float. The stock is a short squeeze candidate, with a short float at 10.21% (equivalent to 8.45 days of average volume). The stock has gained 77.97% over the last year.

5. QLT Inc. (NASDAQ:QLTI): Biotechnology Industry. Market cap of $355.83M. Current price at $6.93 vs. target price of $10 (implies a potential upside of 44.30%). Net insiders purchases over the last 6 months is 258,318 shares, which represents 0.79% of the 32.58M share float. The stock has gained 21.91% over the last year.

6. Exact Sciences Corporation (NASDAQ:EXAS): Biotechnology Industry. Market cap of $412.02M. Current price at $8.02 vs. target price of $11.22 (implies a potential upside of 39.90%). Net insiders purchases over the last 6 months is 6000 shares, which represents 0.01% of the 48.91M share float. The stock is a short squeeze candidate, with a short float at 11.48% (equivalent to 9.45 days of average volume). The stock has had a couple of great days, gaining 6.05% over the last week.

7. Theravance Inc. (NASDAQ:THRX):
Biotechnology Industry. Market cap of $1.86B. Current price at $21.99 vs. target price of $27.8 (implies a potential upside of 26.42%). Net insiders purchases over the last 6 months is 5.19M shares, which represents 9.92% of the 52.32M share float. The stock is a short squeeze candidate, with a short float at 8.61% (equivalent to 14.23 days of average volume). The stock has performed poorly over the last month, losing 13.19%.

8. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN): Biotechnology Industry. Market cap of $4.82B. Current price at $52.93 vs. target price of $66.2 (implies a potential upside of 25.07%). Net insiders purchases over the last 6 months is 675,375 shares, which represents 0.96% of the 70.34M share float. The stock has gained 111.07% over the last year.

9. Complete Genomics, Inc. (NASDAQ:GNOM): Biotechnology Industry. Market cap of $506.30M. Current price at $15.11 vs. target price of $18.38 (implies a potential upside of 21.64%). Net insiders purchases over the last 6 months is 1650,000 shares, which represents 17.57% of the 9.39M share float. It's been a rough couple of days for the stock, losing 6.22% over the last week.

10. Idenix Pharmaceuticals Inc. (NASDAQ:IDIX): Biotechnology Industry. Market cap of $497.28M. Current price at $5.22 vs. target price of $5.33 (implies a potential upside of 2.11%). Net insiders purchases over the last 6 months is 38,076 shares, which represents 0.06% of the 60.19M share float. The stock has had a couple of great days, gaining 9.51% over the last week.

*Insider data sourced from Yahoo! Finance, other relevant data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 10 Undervalued Biotech Stocks With Insider Buying