Cramer's Outsourcing R&D Stock Plays
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Created by barrons2
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Date updated:01-17-2008
Cramer recently focused on contract research organizations, or CROs. These companies allow big pharmaceuticals to outsource their clinical trial work to cut costs.
-
CVD
Covance Inc - $54.19
- +1.06%
- $53.88
Cramer's favorite in this space is Covance (CVD). Covance, Cramer said, handles early and late stage testing and has a solid customer base. The company also has an immaculate balance sheet, according to Cramer. Covance has $250 million in cash, no debt and $300 million in expected free cash flow over the next two years. Cramer sees the potential for Covance to trade at 37 times this year's earnings, which translates to a target price of $115, or a 33% upside. Despite being just $1 off its 52-week high, Cramer said Covance "must be bought on any weakness."
-
CRL
Charles River Lab - $33.69
- -2.04%
- $33.71
Cramer also recommended Charles River Labs (CRL) as an early stage CRO play and Parexel (PRXL) as a pure-play late stage CRO.
-
PRXL
Parexel Internati - $11.98
- +0.67%
- $12.00
Cramer also recommended Charles River Labs (CRL) as an early stage CRO play and Parexel (PRXL) as a pure-play late stage CRO.
-
NVS
Novartis Ag Ads - $53.58
- +1.48%
- $53.61
He also still likes drugmaker Novartis (NVS) and retailer CVS Caremark (CVS). CVS is a stock that he also owns for his Action Alerts PLUS portfolio.
-
CVS
Cvs Caremark Cp - $30.90
- +3.73%
- $29.99
He also still likes drugmaker Novartis (NVS) and retailer CVS Caremark (CVS). CVS is a stock that he also owns for his Action Alerts PLUS portfolio.
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