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Wednesday, September 27, 2006

Cramer on MAD MONEY (9/26/06) Says Buy Genentech (DNA)

Cramer also came out positive on Genentech on MAD MONEY in his screenings he ran. He thinks it is too low and surprised it is close to 52-weeks instead of at 52-week highs and says it is the best next to Schering Plough (SGP). He said the street is too focused on Avastin, and he said the over-focus on the FDA is keeping the lid on it. He likes the 25% growth. Cramer says it has multiple FDA decisions coming up and he thinks the FDA will back the new uses for Rituxan and Herceptin. He thinks these could drive it higher short-term, but he thinks even if not in short-term it is going higher long-term.

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