Jim Cramer Says BioMarin Is the Last Bear Market

TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer is keeping an eye on shares of BioMarin Pharmaceutical (BMRN). ‘The big bear market that’s still left is in smaller biotech stocks,’ Cramer said. ‘We solved the commodity bear market, the restaurant bear market, the retail bear market. Watch BioMarin, because if it does go higher, maybe people will start recommending all of those companies that are in biotech that have just been crushed.’ The analysts at Robert W. Baird upgraded the stock to outperform from neutral and raised their price target to $110 a share. The stock currently trades near $86 and has fallen 17.4% since the start of the year. The broader S&P 500 has lost 2.5% year-to-date.