Jim Cramer on Novo Nordisk: "You Gotta Let It Come Back a Little"

Novo Nordisk A/S (NYSE:NVO) is one of the stocks Jim Cramer expressed his thoughts on. A caller asked, as a long-time holder of substantial NVO shares that have significantly declined in value, if it is too late to exit the position. In response, Mad Money’s host said:

“You gotta, okay, you gotta let it come back a little. It’s been so beaten up. The new guy, give the new guy a little chance, so they can get it to the mid-50s. But then you know what, [sell, sell, sell] because there’s really only one king in that space and that’s Eli Lilly.”

Novo Nordisk A/S (NYSE:NVO) researches, manufactures, and distributes pharmaceutical products for diabetes, obesity, cardiovascular conditions, rare blood and endocrine disorders, and hormone therapies. The company also provides insulin and growth hormone delivery devices and smart solutions for diabetes management. During the August 14 episode, a caller asked whether the stock should be invested in after the dip and Cramer responded:

“They’re very poorly run. I don’t know this new CEO, but they are incredibly poorly run, and I’m not going to bet that they suddenly are going to change stripes… They take my breath away about how bad, how poorly they are.”

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