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.

Must Read: Warren Buffett's 10 Favorite Growth Stocks

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.

More from Markets

Asian Markets Decline in Morning Trading

Asian Markets Decline in Morning Trading

Verizon Proves Resilient in Sell-Off; Decoding the Facebook Short -- ICYMI

Verizon Proves Resilient in Sell-Off; Decoding the Facebook Short -- ICYMI

Three Big Factors That Rocked the Stock Market Tuesday

Three Big Factors That Rocked the Stock Market Tuesday

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call