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At 52-week high, would Cramer ‘buy’ this biotech?

Seattle Genetics CEO: 7 products being developed

(Click for video linked to a searchable transcript of this Mad Money segment)

Cramer always notes superlatives in any stock. What does he think of this play now?

Sometimes a 52-week high can be a sign of the top and other times it can suggest a break out lies ahead.

It's the latter scenario that Jim Cramer thinks is more likely as Seattle Genetics touched not only a 52-week high but an all time high on Monday.

"I still think it has more room to run," said the Mad Money host.

Cramer has been a fan of the space broadly and this company in particular for quite some time. In December 2012, the Mad Money host suggested putting Seattle Genetics on your radar as a potential buy. Had you pulled the trigger at that time, you'd already have an 85% gain.

But even if you missed those gains – the Mad Money host still sees opportunity.

He continues to believe powerful catalysts -- such as the ground breaking ways in which the company's products help patients battle cancer -- can drive shares even higher.

Don Bayley | E+ | Getty Images

"The company uses antibody-based technology to search and destroy cancer cells, without causing collateral damage to healthy tissue that are nearby, " Cramer explained.

Cramer believes that is game changing. These drugs can offer an alternatives to conventional chemotherapy, which can sometimes be as damaging as the cancer it's intended to destroy.

And although the company's main product Adcetris, was approved for Hodgkin's Lymphoma two years ago, Cramer says it's possible it may be an effective treatment for other kinds of cancers too.

"Seattle Genetics has twenty other clinical trials going, studying this drug on various different forms of cancer, four of those trials are in phase 3, and that includes a fast-tracked study for T cell lymphoma," he said.

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That's not only good news for patients in their fight against cancer, Cramer thinks it's also positive for investors who hold the stock.

"I'd look at it this way, Seattle Genetics has a lot of shots on goal," he said. And when you get many shots on goal, chances are, you score.

Call Cramer: 1-800-743-CNBC

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