Cramer said that Alkermes is simply not getting enough credit for Vivitrol, but the company is also not a one-trick pony. He said the company has partnerships with companies including Bristol Meyers-Squibb (BMY) for some of its other drugs and has other a sizable drug pipeline.
Trading at just 17 times earnings with a 25% drug rate, Cramer called shares of Alkermes "insanely cheap."
Here's what Cramer had to say about callers' stocks during the "Lightning Round":
Edwards Lifesciences (EW): "This is the solution for people who don't want open heart surgery. I'm sticking with this one."MarkWest Energy Partners (MWE): "Everyone has given up on this one but here they come. Enterprise Products Partners (EPD) at a 52-week high." VirnetX (VHC): "I am not against it, I'm for it." Exelixis (EXEL): "This is one of my favorite biotech spec plays. " Alaska Air Group (ALK): "I used to like that one but now I'm going with US Airways Group (LCC)." Kinross Gold (KGC): "I'm not liking the gold stocks, especially that one. I like the SPDR Gold Shares (GLD)." Skyworks Solutions (SWKS): "I would ring the register. The tech group is not so great here. " Polycom (PLCM): "Listen, the videoconferencing business is horrible. I'd get out." Facebook: "I'm hearing the mobile ad scene is bad. I worry about it and I'm scared of it." ConocoPhillips (COP): "I think we should pull the trigger. I like the upside."