Cramer Praises Asset Manager's 'Amazing Quarter,' But As For SolarEdge? 'Too Hard To Own'

On CNBC’s "Mad Money Lightning Round," Jim Cramer recommended buying BlackRock, Inc. BLK. "I think that was an amazing quarter," he added.

The Securities and Exchange Commission (SEC) has postponed the deadline for passing a judgment on the proposed spot Ethereum ETH/USD exchange-traded fund by BlackRock to March 10.

Cramer said he doesn’t know Axsome Therapeutics, Inc. AXSM and needs to do more work on it because "so many companies have failed when it comes to central nervous system."

RBC Capital initiated coverage on Axsome Therapeutics, citing that its near-term revenue growth and pipeline optionality are underappreciated. RBC initiated Axsome with an Outperform rating and a price target of $126.

Earlier this month, Axsome Therapeutics released preliminary fourth quarter 2023 product revenue of approximately $71 million and $204 million for the full year of 2023.

When asked about SolarEdge Technologies, Inc. SEDG, he said, "This one, along with my friend Enphase Energy, Inc. ENPH, they’re just too hard to own."

SolarEdge Technologies recently disclosed trimming 16% of the workforce to lower operating expenses and align its cost structure to current market dynamics. The job cut will affect around 900 employees, of whom 500 work in the company’s various manufacturing sites.

On Wednesday, Goldman Sachs analyst Brian Lee maintained SolarEdge Technologies with a Sell rating and lowered the price target from $83 to $71.

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Price Action: Shares of SolarEdge gained 0.3% to close at $70.44, while Enphase shares fell 1.2% to $106.83 on Thursday. BlackRock shares gained 0.6% to settle at $790.46, while Axsome Therapeutics fell 1.3% to $90.59 during Thursday’s session.

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