Jim Cramer: 'We Need More Uranium,' Recommends This Stock; Says Novo Nordisk 'Doesn't Hold A Candle' To Big Pharma Rival

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Uranium Energy Corp. UEC is going higher. “UEC's the real deal…We need more uranium. I think it's a great situation,” he added.

On Sept. 23, Uranium Energy disclosed a deal to fully acquire Rio Tinto Plc‘s RIO Wyoming assets for a purchase price of $175 million. As per the deal, the buyout includes the fully licensed Sweetwater Plant and a portfolio of uranium mining projects with around 175 million pounds of historic resources.

When asked about Novo Nordisk NVO, he said, “Doesn't hold a candle to Eli Lilly LLY.”

Sen. Elizabeth Warren (D-MA), last week, wrote a letter to the Federal Trade Commission's chair, Lina Khan, urging the department to investigate Novo Nordisk’s proposed $16.5 billion acquisition of contract development and manufacturing organization Catalent Inc CTLT thoroughly, amid growing concerns about potential antitrust violations. Critics argue that this merger could increase Novo Nordisk's control over producing vital GLP-1 receptor agonists, drugs used to treat diabetes and obesity. This could potentially drive up prices and limit competition.

Cramer recommended staying away from Halliburton HAL.

On Monday, BofA Securities analyst Chase Mulvehill maintained Halliburton with a Buy rating and lowered the price target from $40 to $38.

Price Action:

• Novo Nordisk shares fell 0.2% to settle at $119.78 on Monday.
• Uranium Energy shares gained 0.7% to close at $7.14.
• Halliburton shares fell 0.8% to close at $30.58 on Monday.

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