Jim Cramer: Buy Noodles & Co., Kodiak, These 2 Stocks, Sell Onyx During Hype
Jim Cramer made the following calls on July 1st, 2013. What do you think about his picks?
Noodles & Company (NASDAQ:NDLS): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $40.69, and its 52-week low is $32.00.
Noodles & Co. rocked their IPO, more than doubling their initial share price. Francis Gaskins, a partner at IPO research company IPODesktop.com, told Reuters that, “The whole [restaurant] sector has done well last year and it is growing incredibly.” According to Cramer, it could be the next Chipotle Mexican Grill (NYSE:CMG).
Kodiak Oil (NYSE:KOG): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on March 19, 2012. The stock’s 52-week high is $9.97, and its 52-week low is $6.92.
Cramer seems to have a history of being bullish on energy stocks, and Kodiak is no exception. While the company is trading relatively close to its 52-week high, Oppenheimer is keeping the stock at an outperform, as meetings with the CEO revealed that tests in the Bakken being undertaken by the company could increase valuation should the results come out favorable.
Gilead Sciences Inc. (NASDAQ:GILD): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on May 20, 2013. The stock’s 52-week high is $58.06, and its 52-week low is $24.80.
Gilead has been mentioned as a potential buyer for Onyx Pharmaceuticals (NASDAQ:ONXX) as companies may be entering a bidding war since the first offer was made to buyout Onyx by Amgen (NASDAQ:AMGN). Cramer insists that
company is still on top of the biotech sector It’s up 40 percent since January.
Immunogen Inc. (NASDAQ:IMGN): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on April 16, 2013. The stock’s 52-week high is $18.83, and its 52-week low is $10.85.
Roche Holding AG won approval in February for a antibody-drug conjugate, breast cancer therapy T-DM1, which, according to one investment bank, could prove immensely profitable. It used Immunogen’s antibody-drug conjugate technology as a part of its partnership deal with the company. Moreover, Immunogen may be on to something with one of its own Ovarian cancer drugs, which is currently undergoing testing.
Onyx Pharmaceuticals Inc. (NASDAQ:ONXX): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Buy on April 4, 2013. The stock’s 52-week high is $132.98, and its 52-week low is $63.50.
As mentioned above, Onyx may be looking to get bought out by a plethora of other companies. The stock is up over than 50 percent on news that Onyx refused Amgen’s offer of $120 per share,saying this severely undervalued the company. Cramer is unconvinced that people should be looking to buy on this sort of news though, rather preferring to stick to fundamentals.