Jim Cramer Shows Confidence in Amgen

Amgen Inc. (NASDAQ:AMGN) is one of the stocks Jim Cramer recently put under a microscope. Cramer showed quite a bullish sentiment toward the company’s stock, as he remarked:

“If you want to venture beyond what we call the CPG, consumer packaged goods, world, I think you’d do very well with owning J&J or Amgen… Amgen’s working on cholesterol with its Repatha injection, and it’s doing something very different with weight loss that could lead to terrific outcomes. They both have yields, more than 2.7%. How strongly do I feel about these former safety stocks? We have a monthly investment club meeting on Thursday, and I’ve told Jeff Marks, my co-portfolio manager, that we at least have to put one of these names in the bullpen. I don’t want to wait to look back and say, how did we miss that bottom?”

Amgen Inc. (NASDAQ:AMGN) develops human therapeutics that target diseases like rheumatoid arthritis, osteoporosis, cardiovascular disorders, cancer, and autoimmune conditions. Cramer discussed the company during the November 10 episode and commented:

“In the last few weeks, the long-dormant healthcare sectors finally started to show a little life. It’s so inexpensive, it’s crazy. Take Amgen, the big biotech company with a host of drugs for cardiovascular disease, inflammation, oncology, all sorts of rare diseases. This stock’s up roughly 20% from its late September lows, including a monster run last week when Amgen reported spectacularly better than expected quarter. Then this past weekend, the company announced some very promising heart attack prevention results from a phase 3 clinical trial of Repatha, that’s the cholesterol drug.”

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