Jim Cramer Prefers Buying Eli Lilly When People Are "Getting Antsy"

Eli Lilly and Company (NYSE:LLY) is one of the stocks Jim Cramer discussed, along with the tech battleground. A caller asked Cramer about an optimal entry point into the stock, and he replied:

“I think that people now are getting antsy and thinking that it’s really breaking down. That’s probably when I want to start buying. I think that this, we’re very close to the Medicare payment, and it also has, you know, new indication after new indication, new indication, new readout, new readout. Buy some here and then do what’s known as a scale. Let’s say you buy five here, you buy ten at $900, and maybe you buy twenty at $950, and then you’ll have a really nice pyramid going. That’s what I like.”

Eli Lilly and Company (NYSE:LLY) develops and markets medicines for diabetes, obesity, oncology, immunology, neuroscience, and other chronic conditions. Cramer praised the company’s GLP-1 medication during the November 25 episode, as he remarked:

“I also own Eli Lilly, too, so I can handle that pain. Lilly may have the greatest drug franchise of all time with this GLP-1 weight loss and diabetes medication. Might also be a great treatment for hypertension, even alcoholism.”

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