ARGX

While AI stocks experienced a selloff, three non-AI companies present attractive long-term investment opportunities: Cummins (CMI), a historic engine manufacturer benefiting from data center demand and trading 29% below summer highs; Argenx (ARGX), a biotech firm with its blockbuster autoimmune drug Vyvgart expanding to new indications; and PACCAR (PCAR), a truck manufacturer positioned to benefit from fleet refreshes and constrained freight capacity.

Halozyme Therapeutics announced an expansion of its collaboration with argenx, increasing exclusive ENHANZE technology targets from six to eight. The deal includes milestone payments and royalties on product sales. Halozyme raised its 2026 revenue guidance to $1.84-$1.91 billion, driven by strong royalty growth from J&J's Darzalex and argenx's Vyvgart Hytrulo.

Wall Street analysts are overwhelmingly bullish on Argenx SE (ARGX), with 10 analysts predicting the stock will reach at least $1,200 within 12 months from its current price of $919, representing potential upside of roughly 29%. The optimism is driven by strong sales growth from its Vyvgart franchise and a promising pipeline of autoimmune disease treatments. However, the company faces risks from ongoing clinical trials and declining sales in China.