One more stock with some decent insider buying is Idera Pharmaceuticals ( IDRA), a clinical stage biotechnology company engaged in the discovery and development of novel synthetic DNA- and RNA- based drug candidates. Insiders are buying this stock into big time strength, since shares are up sharply by 83% so far in 2013. >>4 Stocks to Profit From the Bounce Idera Pharmaceuticals has a market cap of $74 million and an enterprise value of $51 million. This stock trades at a premium valuation, with a price-to-book of 24.92. Its estimated growth rate for this year is 34.6%, and for next year it's pegged at 1.9%. This is a cash-rich company, since the total cash position on its balance sheet is $16.30 million and its total debt is zero. A director just bought 300,000 shares, or about $525,000 worth of stock, at $1.75 per share. From a technical perspective, IDRA is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last four months, with shares ripping higher from its low of 52 cents per share to its recent high of $2.13 a share. During that move, shares of IDRA have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of IDRA within range of triggering a big breakout trade. If you're bullish on IDRA, then look for long-biased trades as long as this stock is trending above some key near-term support levels at $1.47 to $1.45, and then once it breaks out above its 52-week high at $2.13 a share and then above some past resistance at $2.19 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 231,742 shares. If that breakout triggers soon, then IDRA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $3 to $3.75 a share. To see more stocks with notable insider buying, check out the Stocks With Big Insider Buying portfolio on Stockpickr. -- Written by Roberto Pedone in Delafield, Wis.