Cramer Sees Pharmacyclics (PCYC) Market Cap Doubling
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Pharmacyclics (Nasdaq: PCYC) is up following bullish comments from stock sage Jim Cramer late last week. He noted that three firms -- JPMorgan, Deutsche Bank, and William Blair -- upgraded the stock recently.
Despite being up 130 percent over the last year, Cramer thinks Pharmacyclics can go higher. He highlighted the pharma's blood-cancer drug, which was submitted to the FDA over the summer, as a blockbuster therapy. The drug is not only having results, it is also doing so on its own.
Pharmacyclics' blood-cancer drug costs about $125,000 per year and analysts see $6.5 billion in peak revenue. About half the revenue will go to Johnson & Johnson (NYSE: JNJ).
With Pharmacyclics expected to bring in over $3 billion annually on the drug, Cramer thinks the stock could double. Peer Alexion (Nasaq: ALXN) has about $3.5 billion in revenue each year and is valued at $22 billion, versus $10 billion for Pharmacyclics.
Shares are up over 4 percent.
Despite being up 130 percent over the last year, Cramer thinks Pharmacyclics can go higher. He highlighted the pharma's blood-cancer drug, which was submitted to the FDA over the summer, as a blockbuster therapy. The drug is not only having results, it is also doing so on its own.
Pharmacyclics' blood-cancer drug costs about $125,000 per year and analysts see $6.5 billion in peak revenue. About half the revenue will go to Johnson & Johnson (NYSE: JNJ).
With Pharmacyclics expected to bring in over $3 billion annually on the drug, Cramer thinks the stock could double. Peer Alexion (Nasaq: ALXN) has about $3.5 billion in revenue each year and is valued at $22 billion, versus $10 billion for Pharmacyclics.
Shares are up over 4 percent.
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