Cramer Now Touts Merck For Drug & Yield (MRK, PFE)
Jim Cramer has touted several DJIA upside calls in 2012, but on Monday’s MAD MONEY on CNBC Cramer touted Merck & Company, Inc. (NYSE: MRK) as the great pharma outfit with what may be the next big drug. Rather than Lipitor from…
Jim Cramer has touted several DJIA upside calls in 2012, but on Monday’s MAD MONEY on CNBC Cramer touted Merck & Company, Inc. (NYSE: MRK) as the great pharma outfit with what may be the next big drug. Rather than Lipitor from Pfizer Inc. (NYSE: PFE), the aim for a new drug in late-stage trials by Merck treats the 65% of patients who do not get helped out by traditional statin drugs. Cramer called it a $5 billion or $10 billion sales opportunity which is even big enough to move the needle for Merck’s upside. Cramer also likes that Merck pays a very high dividend yield well over 4% for investors who are waiting.
Merck shares closed down 1.1% at $38.77 today and the last trade after the Cramer tout put Merck up 0.9% around $39.15 or so in the after-hours. Its 52-week trading range is $29.47 to $39.43 and that means that Merck could put in a 52-week high now. Pfizer is around $21.71 and its 52-week high is $22.17.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
