Jim Cramer: 'We Need More Uranium,' Recommends This Stock; Says Novo Nordisk 'Doesn't Hold A Candle' To Big Pharma Rival

Benzinga · 10/15 12:22

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Uranium Energy Corp. (NYSE:UEC) is going higher. “UEC's the real deal…We need more uranium. I think it's a great situation,” he added.

On Sept. 23, Uranium Energy disclosed a deal to fully acquire Rio Tinto Plc‘s (NYSE:RIO) Wyoming assets for a purchase price of $175 million. As per the deal, the buyout includes the fully licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.

When asked about Novo Nordisk (NYSE:NVO), he said, “Doesn't hold a candle to Eli Lilly (NYSE:LLY).”

Sen. Elizabeth Warren (D-MA), last week, wrote a letter to the Federal Trade Commission's chair, Lina Khan, urging the department to investigate Novo Nordisk’s proposed $16.5 billion acquisition of contract development and manufacturing organization Catalent Inc (NYSE:CTLT) thoroughly, amid growing concerns about potential antitrust violations. Critics argue that this merger could increase Novo Nordisk's control over producing vital GLP-1 receptor agonists, drugs used to treat diabetes and obesity. This could potentially drive up prices and limit competition.

Cramer recommended staying away from Halliburton (NYSE:HAL).

On Monday, BofA Securities analyst Chase Mulvehill maintained Halliburton with a Buy rating and lowered the price target from $40 to $38.

Price Action:

  • Novo Nordisk shares fell 0.2% to settle at $119.78 on Monday.
  • Uranium Energy shares gained 0.7% to close at $7.14.
  • Halliburton shares fell 0.8% to close at $30.58 on Monday.

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