Pfizer Inc (NYSE:PFE) shares are just "too low to sell," according to Jim Cramer, host of CNBC's "Mad Money Lightning Round."
Hold the stock and let "the dividend do the job," Cramer advises, preferring to wait for "some good news" on the Seagen acquisition.
Pfizer stock is down more than 7% over the past year. With the Covid wave having past, the pharma giant is in talks to extend its collaboration with medical AI start-up firm PostEra to design antibody-drug conjugates.
Turning to Vertex Pharmaceuticals Inc's (NASDAQ:VRTX) new wonder drug suzetrigine, which received FDA approval last year, Cramer said it was disappointing that the drug does not seem to be working. "I was praying they would have something that wouldn't be addictive," he added.
Although the pharma company has several "great drugs," there seems to be a limited upside to the stock because suzetrigine was supposed to be the "drug of the future for Vertex," Cramer added.
When asked about Serve Robotics Inc (NASDAQ:SERV), Cramer suggested Nvidia Corp (NASDAQ:NVDA) for exposure to the sector. Calling Nvidia the "king of robots," he further said, "There's nobody else."
Cramer said he would be a seller of QuantumScape Corp (NYSE:QS). Referring to the steep decline in Powell Industries Inc's (NASDAQ:POWL) shares, Cramer said, "I did not see that coming." The decline has been a "big, big disappointment," he
added.
Price Action
- Pfizer's stock declined by 1% to close at $26.86 on Wednesday.
- Shares of Vertex Pharmaceuticals Inc settled higher by 0.93% at $412.11.
- Serve Robotics tanked almost 10% on Wednesday.
- Nvidia's share price ended the trading session almost flat.
- QuantumScape's stock plunged 9% to close at $5.72.
- Shares of Powell Industries fell 3.26% to $229.38.
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