10 Best Biotech Penny Stocks to Buy According to Analysts

4. Iovance Biotherapeutics Inc. (NASDAQ:IOVA)

Share Price as of December 26: $2.85

Number of Hedge Fund Holders: 27

Average Upside Potential as of December 26: 233.33%

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is one of the best biotech penny stocks to buy according to analysts. On December 17, Barclays analyst Etzer Darout raised the firm’s price target on Iovance Biotherapeutics to $10 from $9, while keeping an Overweight rating on the shares. This announcement was made as part of the firm’s 2026 projections, where it revised its valuation targets for the biotech industry.

Earlier in Q3 2025, Iovance Biotherapeutics Inc. (NASDAQ:IOVA) highlighted a total product revenue of $68 million, which was a 13% sequential increase. The primary driver was Amtagvi sales, which reached $58 million, while Proleukin contributed ~$10 million. The company also reaffirmed its full-year 2025 revenue guidance of $250 to $300 million. Management remains optimistic about Amtagvi’s growth, projecting peak US sales in advanced melanoma to exceed $1 billion. This growth is supported by an expanding network of 80+ Authorized Treatment Centers across ~40 states.

A major operational shift is planned for early 2026, when Iovance will centralize all Amtagvi and clinical manufacturing at its internal facility, the Iovance Cell Therapy Center/iCTC. This move is designed to eliminate reliance on contract manufacturers, maximize capacity, and further drive gross margins toward a long-term goal of over 70%.

Beyond melanoma, Iovance is aggressively pursuing a significantly larger market in non-small cell lung cancer/NSCLC. Interim data from the IOV-LUN-202 trial showed a best-in-class profile with an objective response rate of 26% and a median duration of response that was not reached at 25 months. Enrollment of ~80 patients is expected to finish in 2026, supporting a potential supplemental BLA and a commercial launch in H2 2027.

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is a commercial-stage biopharmaceutical company that develops and commercializes cell therapies using autologous tumor-infiltrating lymphocytes for the treatment of metastatic melanoma and other solid tumor cancers in the US.