Most of the buy-and-hold crowd tends to steer clear of biotech stocks, and for good reason. Biotechnology companies can be uncomfortably risky. Far too many horror stories of failed drug trials or the expiration of a crucial patent leading to massive stock plunges have circulated for years now, souring would-be buyers on the entire industry.

However, conclusions based on a handful of biotech stocks may have erroneously prevented investors from plugging into a perfectly reasonable risk-reward relationship. Said differently: Not all biotech stocks turn into disasters. The industry as a group is up nearly 70% for the past five years, proving many of these companies can reward patient shareholders who choose wisely. It's simply a matter of doing your homework and having a little common sense.

Here are seven biotech stocks that aren't nearly as risky as their typical peer. Thus, they may have a place in more risk-averse portfolios than most investors might presume.

Amgen

The biggest biopharmaceutical companies don't always win all the spoils. A small outfit with a novel idea and a little know-how certainly is capable of coming