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.

argenx announced that Phase 3 ALKIVIA study results for efgartigimod (VYVGART Hytrulo) in autoimmune myositis will be presented as a late-breaking oral presentation at ACR Convergence 2026. The study met its primary endpoint, showing a 15.4-point greater improvement in Total Improvement Score versus placebo at Week 52 in the combined IMNM and DM population, with improvements observed as early as Week 4 and sustained through 52 weeks. The drug was well-tolerated with a consistent safety profile.

As AI stocks experience a selloff, Zacks highlights three non-AI stocks with strong fundamentals and growth potential: Cummins (engine/powertrain manufacturer benefiting from data center boom), Argenx (biotech with blockbuster autoimmune drug Vyvgart expanding to new indications), and PACCAR (commercial truck manufacturer with 87 years of profitability). All three are trading at discounts from recent highs with positive earnings outlooks.

A $1,000 investment in Halozyme Therapeutics (HALO) made in October 2016 would be worth $11,612.33 as of October 15, 2026, representing a 1,061.23% gain. This significantly outperformed the S&P 500's 261.89% return over the same period. The biopharmaceutical company's success is driven by royalties from its ENHANZE drug delivery technology licensed to major pharma partners, though it faces headwinds from biosimilar competition on blockbuster drugs.

argenx announced it will host a conference call on October 22, 2026 at 2:30 PM CET to discuss third quarter 2026 financial results and provide a business update. The immunology company will present via webcast and phone with dial-in numbers provided for multiple countries.

argenx announced positive phase II results for FB102, an investigational therapy for celiac disease, meeting its primary endpoint with significant improvements in intestinal tissue measures versus placebo and no new safety signals. The company plans to advance FB102 into late-stage development and evaluate it for other autoimmune conditions. However, the stock declined nearly 12% following a separate announcement that argenx discontinued its phase III UNITY study for Vyvgart Hytrulo in Sjögren's disease.

A Dutch patent court ruled that Merck's Keytruda subcutaneous formulation infringes Halozyme's MDASE patent, ordering Merck to cease manufacturing and sales across eight European markets. The ruling does not affect Keytruda's intravenous version. This marks another legal victory for Halozyme against Merck, though the company clarified that its separate ENHANZE technology and licensing business remain unaffected.

argenx presented new clinical data at the AANEM and MGFA scientific sessions demonstrating deepening improvements in ocular myasthenia gravis (MG) with VYVGART, sustained one-year efficacy in anti-AChR antibody-negative MG patients, and benefits of earlier treatment initiation. Real-world evidence from over 1,100 U.S. MG patients showed greater clinical gains when treatment started within one year of diagnosis.

Long-term CIDP data reinforced consistent safety and efficacy, with a Phase 4 study supporting direct transition from IVIg. Pipeline candidates empasiprubart and adimanebart showed promising Phase 2 results in multifocal motor neuropathy and congenital myasthenic syndrome respectively.