Jim Cramer Says Pfizer Needs a Catalyst

Pfizer Inc. (NYSE:PFE) is one of the stocks in Jim Cramer’s spotlight. A caller asked what Cramer thinks of the company, and in response, he 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.”

A medical technician wearing protective gloves and a mask mixing a biopharmaceutical solution.

Pfizer (NYSE:PFE) makes and sells a broad range of medicines and vaccines for conditions like heart disease, infections, cancer, and rare diseases. The company also partners with other drugmakers and offers contract manufacturing services. When a caller inquired about Pfizer (NYSE:PFE) stock in a May episode, Cramer responded:

“You know, look, I think Pfizer, I think it can bottom here. I do believe, I still believe in the Seagen acquisition. I know I seem like, that I’m alone along with Dr. Bourla, but I think that there’s a lot of good stuff that they have, so I would say keep it here.”

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