Will Idera Pharmaceuticals (IDRA) Stock Sustain Today's Rally?

NEW YORK (TheStreet) -- Idera Pharmaceuticals  (IDRA) surged Tuesday on a positive day for healthcare stocks after the company had remained relatively flat since last week.

Idera rose 17.92% to $3.35 at 1:04 p.m. The stock opened at $2.86. 

The stock is trading in the middle of its 52-week range of 52 cents to $6.87. It had a range today of $2.86 to $3.48 as of 1:04 p.m.

Idera was one of the biggest gainers among healthcare stocks and helped lead the sector upward along with Allergan (AGN), which surged thanks to Pershing Square Capital Management, led by founder and CEO William Ackman, and Valeant Pharmaceuticals International's (VRX) joint effort to pursue a takeover of the company.

SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more

IDRA Chart

IDRA data by YCharts

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

Why 2018 Will Be Better for Biotech Deals Than 2017

Why 2018 Will Be Better for Biotech Deals Than 2017

Achillion Shares Are Plunging on Termination of Hepatitis C Pact

Achillion Shares Are Plunging on Termination of Hepatitis C Pact

5 Stocks Insiders Love Right Now

5 Stocks Insiders Love Right Now

8 Biotech Stocks Under $10 Making Big Moves Higher

8 Biotech Stocks Under $10 Making Big Moves Higher

5 Stocks Ready for Breakouts

5 Stocks Ready for Breakouts