This biotech name is one of Jim Cramer's favorite stocks and he thinks it can go even higher

"I think it's going to be worth more," Jim Cramer said Monday after Regeneron got good news from the FDA on its macular degeneration treatment.

Hollif Hollif
Aug 21, 2023 - 21:05
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This biotech name is one of Jim Cramer's favorite stocks and he thinks it can go even higher

Regeneron

Regeneron Pharmaceuticals (REGN) rose Monday after the Food and Drug Administration approved a higher-dose formulation of Eylea, the company's macular degeneration treatment.

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CNBC's Jim Cramer said on "Squawk on the Street" that Regeneron is one of his favorite health-care names, describing Eylea as "a remarkable drug for macular degeneration." The "Mad Money" host thinks the company's stock will continue to go up, citing CEO Leonard Schleifer's track record in management.

"I think being up [11 points] is not enough," Jim said as shares traded $11 higher. "I think it's going to be worth more."

The CNBC Investing Club with Jim Cramer doesn't own Regeneron. But the Club does own health-care stocks, including Eli Lilly (LLY), which has been soaring to record high after record high. Cramer's case for Lilly centers on its new diabetes drug, which is expected to get regulatory approval to also treat obesity. Lilly also has an Alzheimer's drug in FDA review.

Here's a full list of the stocks in Jim's Charitable Trust, the portfolio used by the CNBC Investing Club.