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Allergan Is the 'Cheapest Big-Cap Drug Stock in the Universe': Cramer

Stockpicker plans to buy more AGN if it drops another $5 or so.

Jim Cramer says Allergan (AGN) - Get Allergan plc Report is "the cheapest big-capitalization drug stock in the universe," so he'll buy more shares of the lackluster drugmaker for his charitable trust if the price drops below $200.

"Allergan just been an out-and-out disappointment, [so] why hold it? Ennui? Lack of discipline?" Cramer asked during an exclusive conference call with members of his Action Alerts PLUS club for investors. No! We hold Allergan because through sheer hatred, it has become the cheapest big-capitalization drug stock in the universe."

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Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AGN.