Cramer's 'Mad Money' Recap: West Pharma's Numbers in Safety

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"When you got a stock that's hitting its 52-week high while virtually everything else in its sector is snoozing ... that's something you need to take a look at," Jim Cramer told viewers of his "Mad Money" TV show Friday.

That's why he looked into West Pharmaceutical Services(WST Quote).

It's on top of the drug packaging and delivery markets, he said, and that means tamper-proof packaging, stoppers and seals. Unlike sexier pharmaceutical companies that make the drugs you read about, West Pharma is a dependable, boring stock that could make you some real money, he said.

The stock got its first boost in the 1980s, when Johnson & Johnson(JNJ Quote) had to pull Tylenol off of shelves when cyanide was found in some tampered samples.

Now there's a new catalyst for the stock, he said, and it's Exubera, the new inhalable insulin.

He still likes Nektar Therapeutics(NKTR Quote) as a trade on the Exubera hoopla, because it created the delivery system for the treatment.

However, the stock is risky and he would sell it as soon as Exubera is released, he said.

But Nektar has outsourced the manufacturing of the inhaler to West Pharma, he said, making it a less risky way to play the "Exubera hoopla."

West Pharma has passed total cost increases on to customers, and "that's the kind of power you want stock to have," he said. The Lionville, Pa., company just beat first-quarter earnings estimates handily and guided up huge, added Cramer.

So with the stock flying high, is now a good time to buy? He said that if a stock is too expensive, he'll pass.

But West Pharma is trading at 17 times forward earnings on 27% growth, he said. So even though it has moved dramatically higher, it's still a cheap stock.