Tonight Cramer said tonight on his MAD MONEY show on CNBC there is no reason to wait for the J.P.Morgan Biotech conference, because he already has the stocks to play.
This makes for many short-term and long-term trades for the year, and that is why it is imprtant. He has a jump on it. His #1 biotech pick going into and coming out of the conference is what he is focusing on.
Gilead (GILD) is his top pick ‘ahead of the conference" but it isn’t his top biotech pick for 2007. He said it has the best portfolio of HIV drugs on the market and a great flu and avian flu portfolio. Cramer thinks that investors are nervous and have been since it lost 10% in October and the street isn’t sure if it like it. They also bought his top biotech pick for 2006, Myogen. He said it is too large to be acquired and the pulmonary focus of Myogen was different than the infectous disease treatments that Gilead focused on. That scared the institutions away according to Cramer. The HIV cocktailing treatment is great to him. He also likes Myogen’s hypertension treatment and other future hepatitis treatments.
Gilead traded up 1.5% to $65.25 in after-hours trading after Cramer commented on it.
Jon C. Ogg
January 8, 2007
Top Gaining Stocks
Top Losing Stocks