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So much has been written about the significant levels of insider selling taking place at the moment. With that in mind, we wanted to focus on the companies that are bucking the trend.

To create this list, we started with a selection of cash-rich companies. All of these companies have cash holdings that exceed more than 4 quarters of average operating expenses.

To refine the list, we collected data on insider buying, and identified the names that have seen bullishness from company executives, with net insider purchases representing at least 2% of share float.

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

Tool provided by Kapitall

Inside management thinks these cash-rich companies are due for a rally--do you agree? Use this list as a starting point for your own analysis.

List Average 1-Year Return: 45%.

1. American DG Energy, Inc. (NYSEMKT:ADGE): Distributes, owns, and operates on-site energy systems that produce electricity, hot water, heat and cooling. Market cap at $97.57M, most recent closing price at $2.08. Average quarterly operating expense over the last five quarters at $2.61M, vs. most recent cash and short-term investments at $15.68M, implies a Cash / Avg. Operating Expense ratio at 6. Over the last six months, insiders were net buyers of 466,000 shares, which represents about 2.32% of the company's 20.09M share float.

2. AMAG Pharmaceuticals, Inc. (NASDAQ:AMAG): Engages in the development and commercialization of a therapeutic iron compound to treat iron deficiency anemia ((NYSE:IDA)). Market cap at $354.43M, most recent closing price at $16.57. Average quarterly operating expense over the last five quarters at $32.03M, vs. most recent cash and short-term investments at $207.25M, implies a Cash / Avg. Operating Expense ratio at 6.47. Over the last six months, insiders were net buyers of 390,178 shares, which represents about 2.52% of the company's 15.47M share float.

3. Amicus Therapeutics, Inc. (NASDAQ:FOLD): Focuses on the discovery, development, and commercialization of orally-administered, small molecule drugs for the treatment of various human genetic diseases. Market cap at $252.62M, most recent closing price at $5.12. Average quarterly operating expense over the last five quarters at $18.97M, vs. most recent cash and short-term investments at $95.77M, implies a Cash / Avg. Operating Expense ratio at 5.05. Over the last six months, insiders were net buyers of 1,140,000 shares, which represents about 4.67% of the company's 24.42M share float.

4. GTX Inc. (NASDAQ:GTXI): Engages in the discovery, development, and commercialization of small molecules to treat cancer, osteoporosis and bone loss, muscle loss and other serious medical conditions. Market cap at $282.69M, most recent closing price at $4.50. Average quarterly operating expense over the last five quarters at $12.25M, vs. most recent cash and short-term investments at $55.93M, implies a Cash / Avg. Operating Expense ratio at 4.57. Over the last six months, insiders were net buyers of 795,478 shares, which represents about 3.18% of the company's 25.05M share float.

5. Halozyme Therapeutics, Inc. (NASDAQ:HALO): Engages in the development and commercialization of recombinant human enzymes that transiently modify tissue under the skin to facilitate injection of other therapies or correct diseased tissue structures for clinical benefits. Market cap at $714.45M, most recent closing price at $6.34. Average quarterly operating expense over the last five quarters at $20.62M, vs. most recent cash and short-term investments at $102.04M, implies a Cash / Avg. Operating Expense ratio at 4.95. Over the last six months, insiders were net buyers of 3,372,440 shares, which represents about 5.47% of the company's 61.67M share float.

6. Universal Display Corp. (PANL): Engages in the research, development and commercialization of organic light emitting diode ((NASDAQ:OLED)) technologies and materials for use in flat panel display, solid-state lighting, and other product applications. Market cap at $2.02B, most recent closing price at $43.58. Average quarterly operating expense over the last five quarters at $14.9M, vs. most recent cash and short-term investments at $350.02M, implies a Cash / Avg. Operating Expense ratio at 23.49. Over the last six months, insiders were net buyers of 867,597 shares, which represents about 2.44% of the company's 35.55M share float.

7. Pacira Pharmaceuticals Inc. (NASDAQ:PCRX): Engages in the development, commercialization and manufacture of pharmaceutical products for hospitals and ambulatory surgery centers. Market cap at $553.41M, most recent closing price at $17.07. Average quarterly operating expense over the last five quarters at $16.56M, vs. most recent cash and short-term investments at $84.28M, implies a Cash / Avg. Operating Expense ratio at 5.09. Over the last six months, insiders were net buyers of 511,422 shares, which represents about 2.47% of the company's 20.71M share float.

8. Pharmacyclics Inc. (NASDAQ:PCYC): Operates as a clinical-stage biopharmaceutical company focusing on developing and commercializing small-molecule drugs for the treatment of immune mediated disease and cancer. Market cap at $4.34B, most recent closing price at $62.46. Average quarterly operating expense over the last five quarters at $16.5M, vs. most recent cash and short-term investments at $203.61M, implies a Cash / Avg. Operating Expense ratio at 12.34. Over the last six months, insiders were net buyers of 2,054,434 shares, which represents about 4.72% of the company's 43.53M share float.

9. Theravance Inc. (NASDAQ:THRX): Engages in the discovery, development and commercialization of small molecule medicines for various therapeutic areas, including respiratory disease, bacterial infections and central nervous system (NYSE:CNS)/pain. Market cap at $2.53B, most recent closing price at $26.15. Average quarterly operating expense over the last five quarters at $36.96M, vs. most recent cash and short-term investments at $295.49M, implies a Cash / Avg. Operating Expense ratio at 7.99. Over the last six months, insiders were net buyers of 10,104,021 shares, which represents about 19.18% of the company's 52.68M share float.

10. Tejon Ranch Co. (NYSE:TRC): Engages in the real estate development and agribusiness business activities in the United States. Market cap at $612.94M, most recent closing price at $30.54. Average quarterly operating expense over the last five quarters at $10.27M, vs. most recent cash and short-term investments at $74.78M, implies a Cash / Avg. Operating Expense ratio at 7.28. Over the last six months, insiders were net buyers of 590,309 shares, which represents about 4.07% of the company's 14.52M share float.

11. Tranzyme, Inc. (TZYM): Focuses on discovering, developing and commercializing small molecule therapeutics for the treatment of acute and chronic gastrointestinal (GI) motility disorders in the United States and internationally. Market cap at $105.3M, most recent closing price at $3.87. Average quarterly operating expense over the last five quarters at $8.59M, vs. most recent cash and short-term investments at $36.39M, implies a Cash / Avg. Operating Expense ratio at 4.24. Over the last six months, insiders were net buyers of 1,365,020 shares, which represents about 15.85% of the company's 8.61M share float.

12. Vical Inc. (NASDAQ:VICL): Engages in the research and development of biopharmaceutical products based on its deoxyribonucleic acid (DNA) delivery technologies for the prevention and treatment of serious or life-threatening diseases. Market cap at $342.82M, most recent closing price at $3.99. Average quarterly operating expense over the last five quarters at $9.92M, vs. most recent cash and short-term investments at $91.82M, implies a Cash / Avg. Operating Expense ratio at 9.26. Over the last six months, insiders were net buyers of 2,738,670 shares, which represents about 3.66% of the company's 74.82M share float.

13. WebMD Health Corp. (NASDAQ:WBMD): Provides health information services to consumers, physicians and other healthcare professionals, employers and health plans through its public and private online portals, mobile platforms, and health-focused publications in the United States. Market cap at $752.3M, most recent closing price at $15.01. Average quarterly operating expense over the last five quarters at $117.84M, vs. most recent cash and short-term investments at $964.23M, implies a Cash / Avg. Operating Expense ratio at 8.18. Over the last six months, insiders were net buyers of 1,008,250 shares, which represents about 2.95% of the company's 34.23M share float.

14. ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP): Focuses on the development and commercialization of in-licensed cancer drugs in North America. Market cap at $440.02M, most recent closing price at $5.53. Average quarterly operating expense over the last five quarters at $17.22M, vs. most recent cash and short-term investments at $110.39M, implies a Cash / Avg. Operating Expense ratio at 6.41. Over the last six months, insiders were net buyers of 1,923,080 shares, which represents about 3.54% of the company's 54.27M share float.

Insider data sourced from Yahoo! Finance, all other data sourced from Finviz.

Source: Insider Buying Trends: Are These Cash-Rich Companies Ready For A Rally?