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:

Synergy Pharmaceuticals: "I too am frustrated with the situation. I do not think that Brent Saunders [CEO of Allergan] is going to bite on that. I do believe that the Allergan money [from Teva] is going to come in within the next couple of weeks. Remember, they thought it would come in by July and July is almost over."

Communications Sales & Leasing: "We like digital realty in that space. This is a red-hot stock, absolutely, and I think it's a good one. But the one that we emphasized was, we did CoreSite and we did Digital Realty. They are all trading at their highs, but I like yours. It has a good yield, but I like Digital Realty more."

Monsanto: "Monsanto is up on takeover talk from Bayer from BASF. It's not up there on an earnings basis. On an earnings basis I would not recommend the stock. I would not touch it at this level."

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