Cramer: Buy Agios, Celgene on Positive Reaction to Cancer Treatment Data

NEW YORK (TheStreet) -- Shares of Agios Pharmaceuticals (AGIO)  rose nearly 5% Monday on positive reaction to its myloid leukemia data at the American Society of Hematology conference. 

TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, reminded viewers that investors had an opportunity to buy the stock in the $40s after he touted the company after reading a New Yorker article on the company. 

He explained during CNBC's "Cramer's Mad Dash" segment Agios has a new formation to target cancer cells that are prone to mutations. That's why the stock seemed so promising in the summer, when he began recommending it. 

CELG Chart
Agios Pharmaceuticals AGIO and Celgene CELG data by YCharts

Cramer also pointed out that Celgene (CELG) , one of his favorite biotechs, has a 15% stake in Agios and stakes in four others that presented data at the ASH conference in San Francisco. These four companies went on to "blow away" expectations, too, he added. 

CEO Robert Hugin continues to a great job, he said. Perhaps the next time Celgene makes an investment in one of these small biotech companies, it will signal a buying opportunity for investors, Cramer concluded. 

Follow @BretKenwell

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

If you liked this article you might like