10 Best Multibagger Penny Stocks to Invest In

7. Nuvation Bio Inc. (NYSE:NUVB)

Share Price: $4.51

Stock Upside Potential: 187.08%

Number of Hedge Fund Holders: 40

Nuvation Bio Inc. (NYSE:NUVB) is one of the best multibagger penny stocks to invest in. On March 27, analysts at H.C. Wainwright reiterated a Buy rating on Nuvation Bio Inc. (NYSE:NUVB) with a $17 price target. The bullish stance is in response to positive regulatory developments in Europe.

The European Medicines Agency has validated the company’s Marketing Authorization Application for the candidate treatment of advanced ROS1-positive non-small cell lung cancer. Consequently, the review of taletrectinib is expected to take 1 year. The research firm expects an uneventful approval process in the EU, based on the topline clinical trial data.

Nuvation Bio made the submission following positive pivotal Phase 2 TRUST-I and TRUST-II studies. Therefore, European Market authorization is to be supported by favorable feedback received at a permission meeting with the CHMP Rapporteur and Co-Rapporteur.

The company is on course to secure $30 million in milestone payments from partner Eisai on securing EU regulatory approval. The drug has already received full approval in the US from the Food and Drug Administration.

Nuvation Bio Inc. (NYSE:NUVB) is a commercial-stage global biopharmaceutical company, founded in 2018, focused on developing novel, targeted oncology therapies for difficult-to-treat cancers. In June 2025, they entered the commercial stage with the FDA approval of IBTROZI (taletrectinib), a next-generation inhibitor for ROS1-positive non-small cell lung cancer.