Alexion Pharmaceuticals (ALXN)
Judging from the lack of movement we’ve seen from Alexion Pharmaceuticals (ALXN) shares since June and the lackluster response to the July 24th earnings announcement, ALXN stock largely looks like dead money at this time. As the saying goes, though, expect it when you least expect it — ALXN stock is in a perfect position to rekindle its long-term uptrend by pushing off of a long-term support line.
Alexion Pharmaceuticals is the maker of Soliris … a drug that treats a couple of rare conditions. And, business has been more than good. Alexion has grown revenues and earnings every quarter (sequentially as well as on a year-over-year basis) since the beginning of 2010, beating earnings estimates every quarter since 2011. The recent lull from Alexion is a window of opportunity, and ALXN stock could prove to be one of the top biotech stocks to buy in August.