Jim Cramer's Mad Dash: HTZ REGN

NEW YORK ( TheStreet) -- TheStreet's Jim Cramer looked at Hertz Global Holdings ( HTZ) after the Financial Times reported a possible spinoff of Hertz' construction rental business.

Cramer said the unit is worth about $4.5 billion. Shareholders should be pleased. The company has an enterprise value of $28 billion -- with quite a bit of debt -- and a market cap of only $12 billion. 

A lot of hedge funds are also involved in the stock, he said, and it will be interesting to see if they take profits on Monday's news or stay invested in the company. 

Turning to Regeneron Pharmaceuticals (REGN), Citigroup upgraded the stock to buy from hold. But Cramer questions the timing of the call, saying the analyst is a little late to the party. 

Cramer called Regeneron's Leonard Schleifer "one of my favorite CEOs." 

However, Cramer warned Regeneron and Biogen (BIIB) are the two biotech stocks that have not pulled back this year, unlike their peers. With another three biotech stock offerings scheduled for this week, Cramer is concerned too much "froth" is building in the sector.
 

- - Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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