Jim Cramer -- BioMarin and Radius Health Deserve Today's Big Rally

NEW YORK (TheStreet) -- Biotech stocks are higher on Thursday, led by BioMarin Pharmaceutical (BMRN) and Radius Health (RDUS), up 12% and 18%, respectively. 

On CNBC's "Mad Dash" segment, TheStreet's Jim Cramer pointed out BioMarin received a slew of price target increases from analysts, including from J.P. Morgan, Piper Jaffray, Barclays and RBC Capital Markets, among others. 

Cramer, the co-manager of the Action Alerts PLUS portfolio, said the bullish reaction follows BioMarin's positive Phase 2 results for its dwarfism treatment tested in children. 

BMRN Chart
Radius Health RDUS and BioMarin Pharmaceutical BMRN data by YCharts

Just like BioMarin, Radius also had promising results. A Phase 3 study of its osteoporosis drug showed a significant decline in breakage for patients using the drug compared to those using the placebo. The low number of vertebrae fractures was also very promising, he said. 

These two stocks are headed higher and they don't need M&A speculation to do it, Cramer added. These stocks "deserve" to move higher after these results, he said. 

Positive drug news, a lack of growth in the U.S. economy and M&A are all contributing factors in a rising biotech market, Cramer concluded. 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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