Jim Cramer Couldn't Stop Gushing About Johnson & Johnson (JNJ)'s Cancer Drugs

We recently published 12 Stocks on Jim Cramer’s Radar.  Johnson & Johnson (NYSE:JNJ) is one of the stocks on Jim Cramer's radar.

Healthcare giant Johnson & Johnson (NYSE:JNJ) factored into the discussion after Cramer and his co-hosts discussed Pfizer and Merck. The firm’s shares are up by 46% year-to-date and have had a good December so far. During this time period, Johnson & Johnson (NYSE:JNJ) has reported several important developments. For instance, the firm announced on December 12th that it had secured the Food and Drug Administration’s (FDA) approval for its New Drug Application for the AKEEGA drug to treat patients with certain kinds of prostate cancer. The AKEEGA update followed Johnson & Johnson (NYSE:JNJ)’s revelation on December 9th that the phase three study of TECVAYLI and DARZALEX FASPRO drugs had shown an 83% reduction in disease risk or death for patients suffering from with relapsed/refractory multiple myeloma (RRMM).

Johnson & Johnson (NYSE:JNJ)’s recent announcements have also been met with analyst enthusiasm as Bank of America raised its share price target to $220 from $204 and kept a Neutral rating on the stock on December 15th. Cramer also noted the firm’s cancer drug portfolio and added that Johnson & Johnson (NYSE:JNJ)’s decision to spin off its orthopaedics business was the correct one:

“Look, the king of them all though, is JNJ. I mean JNJ is doing everything right plus they’re actually getting rid of the low margin knees. . .

“JNJ was kept down by the plaintiffs bar, in talc. Because their drugs were always the finest, they’ve got the greatest growth. I have to tell you, that company, everyday they think about . .they’re really solving cancers that I thought in my life would never be solved. And they don’t. . .make claims, but they have been phenomenal. . .I am astonished at the cancer work they’ve done.”

While we acknowledge the potential of JNJ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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