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.
More from Video
Amid the Selling, Here's the Big Question Now
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.