It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Osiris Therapeutics: "Osiris is a very real company, down a lot like a lot of these, but still up for the year...the regeneration of human tissue I think is an exciting spec. The emphasis is on spec, but remember Celgene has come down a lot, too, and I like those."

Opko Health Inc: "I thought that [CEO] Dr. Phil Frost, when he came on, acquitted himself well...and I think this stock is a buy right here, right now. I'm not afraid to stick my neck out for Phil Frost. He has made so much money for people."

Himax Technologies: "I think it will be forever flat. There's really not much there. Even when Maxim is talking about merging with Analog Devices, when we are hearing about Fairchild for sale — this thing doesn't move. What does that tell you? It says you don't want a part of it."

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PPG Industries: "PPG reports tomorrow. Now here's what we know about PPG other than how great Chuck Bunch who is now chairman. This stock went all the way down to $82. It has bounced back to the mid $90s. I wish it weren't so high because these stocks I think are still for sale because we are overbought. But PPG, you're not going to go wrong if you buy this stock in the low $90s. So I'm going to say buy buy buy after it reports pick some up. It tends to get hit at that moment when it reports."

Icon PLC: "Clinical research? You know that we are Quintiles people here. We are not going to change our mind. We are sticking with the letter Q."

Rite Aid: "Rite Aid has been a one way ticket down. I recognize that ever since that last same-store sales month. It has to be able to put two good same-store sales numbers together before it starts rallying again. That doesn't mean I'm abandoning it, if anything it means I'm buying it."

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