Cramer at best first he say buy...then he say buy on a pull back.... at 52 weeks high....SELL SELL now!!
Biogen IDEC (BIIB). Other stocks mentioned: Eli Lilly (LLY), Luxottica (LUX), Intuitive Surgical (ISRG)
Biogen IDEC (BIIB) soared more than 3% after the FDA approved its drug for multiple sclerosis. The stock has given investors a 56% gain since Cramer got behind it in January. However, it might still be worth buying because its valuation is inexpensive; BIIB has a multiple of 19 compared to its 18.3% growth rate. BIIB has several successful drugs for MS, including Avonex, which BIIB is improving to make it longer-lasting. Tecfidera is the most recently approved MS drug produced by BIIB. Tysabri is its leading treatment. Although this drug has significant side effects, it is preferred by doctors, and the company provides sufficient warnings for most patients at risk of developing adverse effects. The company is developing two drugs for hemophilia, expected to be approved by 2014. Cramer would buy BIIB on its next pullback.