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Do you like to follow smart money buying trends? For a look at stocks currently favored by smart money institutional investors, we ran a screen.

We began by screening the biotech industry for stocks that are rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall.

Do you think these stocks are poised to outperform? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases over the last quarter as a percent of share float.

1. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY): Focuses on the discovery, development, and commercialization of novel therapeutics based on RNA interference. Market cap at $589.63M, most recent closing price at $11.35. The stock is currently trading 6.80% above its 20-day moving average, 5.47% above its 50-day MA, and 19.25% above its 200-day MA. Net institutional purchases in the current quarter at 9.9M shares, which represents about 23.91% of the company's float of 41.40M shares.

2. Questcor Pharmaceuticals, Inc. (NASDAQ:QCOR): Provides prescription drugs for central nervous system and inflammatory disorders. Market cap at $2.77B, most recent closing price at $43.99. The stock is currently trading 11.38% above its 20-day moving average, 11.00% above its 50-day MA, and 21.27% above its 200-day MA. Net institutional purchases in the current quarter at 10.2M shares, which represents about 17.1% of the company's float of 59.65M shares.

3. ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP): Focuses on the development and commercialization of in-licensed cancer drugs in North America. Market cap at $427.82M, most recent closing price at $5.38. The stock is currently trading 10.61% above its 20-day moving average, 9.81% above its 50-day MA, and 11.38% above its 200-day MA. Net institutional purchases in the current quarter at 8.7M shares, which represents about 16.07% of the company's float of 54.14M shares.

4. Amylin Pharmaceuticals, Inc. (AMLN): Engages in the discovery, development, and commercialization of drug candidates for the treatment of diabetes, obesity, and other diseases. Market cap at $4.48B, most recent closing price at $27.50. The stock is currently trading 1.70% above its 20-day moving average, 7.40% above its 50-day MA, and 75.04% above its 200-day MA. Net institutional purchases in the current quarter at 17.9M shares, which represents about 12.12% of the company's float of 147.63M shares.

5. Corcept Therapeutics Incorporated (NASDAQ:CORT): Engages in the discovery and development of drugs for the treatment of severe metabolic and psychiatric disorders. Market cap at $377.56M, most recent closing price at $4.26. The stock is currently trading 2.21% above its 20-day moving average, 6.85% above its 50-day MA, and 19.76% above its 200-day MA. Net institutional purchases in the current quarter at 5.5M shares, which represents about 10.99% of the company's float of 50.04M shares.

6. Santarus, Inc. (NASDAQ:SNTS): Engages in acquiring, developing, and commercializing proprietary products that address the needs of patients treated by physician specialists. Market cap at $429.5M, most recent closing price at $6.86. The stock is currently trading 7.60% above its 20-day moving average, 12.33% above its 50-day MA, and 59.17% above its 200-day MA. Net institutional purchases in the current quarter at 3.9M shares, which represents about 9.79% of the company's float of 39.82M shares.

7. Omeros Corporation (NASDAQ:OMER): Engages in discovering, developing, and commercializing products targeting inflammation, coagulopathies, and disorders of the central nervous system. Market cap at $265.36M, most recent closing price at $11.82. The stock is currently trading 22.38% above its 20-day moving average, 27.67% above its 50-day MA, and 96.95% above its 200-day MA. Net institutional purchases in the current quarter at 1.5M shares, which represents about 7.41% of the company's float of 20.23M shares.

8. Medivation, Inc. (NASDAQ:MDVN): Focuses on the development of small molecule drugs for the treatment of castration-resistant prostate cancer, Alzheimer's disease, and Huntington disease. Market cap at $3.16B, most recent closing price at $86.92. The stock is currently trading 1.64% above its 20-day moving average, 8.19% above its 50-day MA, and 65.75% above its 200-day MA. Net institutional purchases in the current quarter at 2.1M shares, which represents about 6.63% of the company's float of 31.66M shares.

9. Ariad Pharmaceuticals Inc. (NASDAQ:ARIA): Focuses on the discovery, development, and commercialization of small-molecule drugs for the treatment of cancer. Market cap at $2.84B, most recent closing price at $17.12. The stock is currently trading 0.83% above its 20-day moving average, 4.00% above its 50-day MA, and 26.65% above its 200-day MA. Net institutional purchases in the current quarter at 9.7M shares, which represents about 6.4% of the company's float of 151.66M shares.

10. Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX): Focuses on the discovery and development of drug candidates for the treatment of various human diseases. Market cap at $850.77M, most recent closing price at $1.77. The stock is currently trading 16.91% above its 20-day moving average, 14.76% above its 50-day MA, and 32.51% above its 200-day MA. Net institutional purchases in the current quarter at 10.5M shares, which represents about 5.3% of the company's float of 198.27M shares.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 10 Rallying Biotech Stocks Being Snapped Up By Hedge Funds