Cramer's 'Mad Money' Recap: Backed Up Against a Wall of Shame

Cramer believes if MMC were to be split up, it would be worth 14% more than it is now. He said he came to that conclusion by comparing MMC's segments to its respective peers to see what each broken-up piece is valued at.

Cramer said he knows he used to refer to MMC as one of the great stocks to avoid, but now he believes either Cherkasky could shortly leave the company or it could be broken up.

Boiling Biomarin

Cramer presented viewers with BioMarin Pharmaceutical (BMRN Quote), "a hot, sizzling biotech name" on Speculation Friday.

BioMarin, he said, is the replacement for Savient Pharmaceuticals (SVNT Quote), one of his best speculative stocks of the year. Cramer advised buying BioMarin soon, but told viewers to give the stock a week to come in so they don't buy it too high.

BioMarin's drug Kuvan, used in the treatment of phenylketonuria or PKU, an inherited metabolic disease, is the big catalyst that could take this stock higher, he said. There currently is no drug to treat the disease, said Cramer, and patients are usually told to keep a restrictive diet.

Kuvan is expected to cost $25,000 a year, Cramer said. But Cramer believes the price is right because it will be the only drug for PKU allowed on the market.