NEW YORK (TheStreet) -- InterMune (ITMN) "had an amazing move" and is now stabilizing, according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.
Speaking during CNBC's "Cramer's Stop Trading" segment, he said there is a "very good analyst" at R.W. Baird named Brian Skorney who is "writing very positive things."
He added that investors were initially very optimistic on the prospects of the company's pulmonary fibrosis treatment.
Phase III results are due out soon and Cramer suggested that "there is going to be fireworks" if the company has positive news about the drug to announce at the American Thoracic Society's annual meeting.
Although biotech stocks have been out of favor among investors, "I think InterMune is for real," Cramer concluded.
-- Written by Bret Kenwell in Petoskey, Mich.