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Forget Alexion (ALXN), Buy These 3 Biotech Stocks Instead

New Haven, CT-based Alexion Pharmaceuticals, Inc. ALXN has had a tough year with shares falling 33.3% year-to-date (YTD). The company, which is known for its focus on developing treatments for rare disorders, has underperformed the Zacks categorized Medical-Biomed/Genetics industry which declined 25.1% YTD.

Alexion’s shares touched a 52-week low recently following the departure of two top executives in the midst of an ongoing probe into improper sales practices (Read more: Alexion Slips to 52-Week Low as CEO, CFO Quit amid Probe). The probe relates to allegations made by a former employee regarding sales practices of the company’s top-selling blockbuster drug, Soliris, which is approved for paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS). The Audit and Finance Committee of the Board of Directors is looking into these allegations -- with the investigation almost complete, Alexion expects to file the Form 10Q for the September quarter in Jan 2017 or earlier.

Soliris is the key revenue generator at Alexion and has brought in sales of $2.1 billion in the first nine...