Jim Cramer on Pfizer: “We are Still on the Verge of Finding Out What the Seagen Acquisition Does”

Pfizer Inc. (NYSE:PFE) is one of the stocks that Jim Cramer weighed in on. A caller asked if they should continue to hold the stock or sell it. In response, Cramer stated:

“I can’t ask you to do that because we are still on the verge of finding out what the Seagen acquisition does. Let’s give Dr. Bourla two more quarters, two more quarters, and then… we’re going to fish or cut bait, okay? Not yet. Two more quarters.”

Photo by Spencer Davis on Unsplash

Pfizer (NYSE:PFE) develops and markets medicines and vaccines across therapeutic areas such as infectious diseases, oncology, cardiovascular, and inflammation. The company also engages in contract manufacturing and maintains partnerships with major pharmaceutical companies. Cramer mentioned the stock in the July 11 episode and said:

“Okay, well, I have not been recommending, my stock in the pharma business is Lilly, and the med equipment is Abbott. I do think that Pfizer is an inexpensive stock. They have to have some sort of catalyst. They have to prove that they have some new cancer formulations with Seagen. If they don’t, you’re just going to be marking time, picking up that six and three-quarters dividend. That is what will happen.”

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Disclosure: None. This article is originally published at Insider Monkey.