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Jim Cramer's 'Mad Money' Recap: What Was Bad Is Good Again

With the stock's remarkable run, Cramer said the market has spoken loudly that it feels Pirfenidone will be a blockbuster. He said investors need to do their homework and have conviction to own a biotech like InterMune in a market that has become extremely fickle.

The Wrong Sporting Trade

Don't take your cues from the wrong companies, Cramer reminded viewers. Case in point: Dick's Sporting Goods (DKS), which saw its shares decline by 18% after the company posted miserable results, with same-store sales rising just 1.5% when analysts were expecting 3% to 4%.

Cramer said the miserable results from Dick's took down all the sporting goods stocks, including Cabela's (CAB), down 5%, and Sportsman's Warehouse (SPWH), down a whopping 16%.

But the problem is not with sporting goods, Cramer told viewers, it's with Dick's and some hig- profile mistakes its management has been making. First, the company doubled down on golf, opening a whole chain dedicated to the sport. Second, the company opted to stop selling some popular high-power sporting rifles last year. Cramer said that decision may make for good public policy but it has been very bad for business.

Yet, both Cabela's and Sportsman's Warehouse don't suffer from either of these issues, Cramer said, and thus don't deserve the slamming they received. Cabela's reaffirmed its guidance when it reported a month ago, and Sportsman's remains an attractive regional to national growth story.

Cramer said he'd pickup either of these two names as they've both gotten very inexpensive.

Executive Decision: Dr. Phil Frost

In his second "Executive Decision" segment, Cramer sat down with Dr. Phil Frost, chairman and CEO of Opko Health (OPK), the diagnostics and drug company that's seen a 70% gain in its shares since Cramer first got behind the stock in October 2011.

Dr. Frost once again touted his company's 4Kscore product, which is a confirmation test for prostate cancer that could eliminate 40% to 50% of all biopsies performed in the U.S., saving the health care system millions of dollars and patients the inconvenience of undergoing the procedure

Dr. Frost also talked about Opko's Claros-1 test card, which eliminates the need to ship a patient's blood off to a lab for testing, and instead provides results in just 10 minutes with just a single drop of blood.

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