In this article, we will take a look at the 10 best penny stocks that are currently offering more than 200% upside potential to investors. On March 25, Jimmy Lee, CEO of Wealth Consulting Group, had a discussion with BNN Bloomberg regarding the ongoing geopolitical conflicts in the Middle East and potential opportunities that could emerge once things settle down.
Lee indicated that the market meltdown stemming from geopolitical risks could open up avenues for investors to realign their investment strategies. Beyond that, the AI-linked selloff has also led to some compelling entry points across the technology landscape. He pointed towards the small-cap universe, which he feels is valued attractively at the moment. However, there is room for further upside if interest rates fall from current levels.
Lee spoke about the potential rebound across broader markets, and small-cap stocks in particular, once the ongoing conflicts are resolved. He emphasized the significance of the Strait of Hormuz by stating:
“If the Strait is fully reopened and shipping flows return to normal, I think oil prices will come down significantly. There could be some collateral damage, but overall, the concerns about persistently high oil prices would ease. That would be a major relief, and I think investors would become more optimistic. The stock market could rebound, and we would likely see continued broadening into areas offering more value than the large-cap tech names that have led over the past five years. I see small-cap stocks doing well, and we are positioned for cyclical sectors. We do not think we are heading into a recession, even though risks have increased somewhat.”
With that background, let’s explore our 10 Best Penny Stocks That Could Triple Your Money.
Photo by Mohamed Hadji on Unsplash
Our Methodology
To identify relevant stocks for this article, we conducted a sector-agnostic screening of U.S.-listed companies with share prices below $5 and market capitalizations above $200 million. Also, we shortlisted only stocks with at least 200% upside potential according to TipRanks consensus as of the March 26 closing. Finally, we selected 10 stocks with the highest upside and ranked them in ascending order.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10. SKYX Platforms Corp. (NASDAQ:SKYX)
SKYX Platforms Corp. (NASDAQ:SKYX) is one of the 10 best penny stocks that could triple your money.
On March 11, SKYX Platforms Corp. announced that it will supply its technologies to a new residential project in Pittsford, New York. The development project is led by Daniele Management & Development Group, which will include 171 units and a range of modern amenities.
SKYX is expected to provide around 10,000 units of its smart plug-and-play technologies, including lighting and related products, to support a more advanced, tech-enabled living environment across the project.
Back on February 19, SKYX Platforms Corp. provided a corporate update covering recent events and future initiatives. Since September 30, the company has brought in over $33 million in cash from institutional and existing investors. This included a $25 million investment by one institutional investor at $2.50 per share of straight common stock, with no warrants. The Shaner Group, which owns and develops more than 70 hotels worldwide, led the $16.5 million investment.
SKYX Platforms Corp. also extended and converted $13.5 million in notes that were coming due. This pushed out the maturity to 2030. The company will be releasing new AI-based software for its e-commerce site, which includes 60 websites. This is expected to increase conversion rates and sales by as much as 30 percent.
SKYX Platforms Corp. provides a chain of safe-smart platform technologies. With its first- and second-generation technologies, electrically wired devices such as light fixtures and ceiling fans are installed and plugged into ceiling electrical outlet boxes. Additionally, it also supplies universal power plugs and receptacle products.
9. Akebia Therapeutics Inc. (NASDAQ:AKBA)
Akebia Therapeutics Inc. (NASDAQ:AKBA) is one of the 10 best penny stocks that could triple your money.
On February 26, Akebia Therapeutics Inc. outlined its 2026 pipeline expansion and shared expectations for Vafseo data catalysts in the $1 billion dialysis market during its fourth quarter 2025 earnings call. The company reported a total of $227 million in net product revenue for the year, with Vafseo and Auryxia being major contributors.
Chief Executive Officer John Butler reported that it was an important year for Akebia, particularly due to the commercialization of Vafseo. He also reported that there is increasing evidence of Vafseo’s potential for becoming standard of care in what is a $1 billion U.S. opportunity post-TDAPA, when Vafseo is expected to be priced at about parity with ESA pricing.
The company also announced its pipeline for rare kidney diseases, including an R&D day scheduled for April 2 to discuss mid-stage assets such as praliciguat and AKB-097. Butler stated:
“At the ASN meeting in November, we presented a post-hoc hierarchical composite endpoint analysis where patients treated with Vafseo experienced a lower risk of dying or being hospitalized than patients treated with the ESA comparator.”
On February 25, BTIG reduced the firm’s price target on Akebia Therapeutics Inc. from $5 to $4. The firm maintained its Buy rating on the stock, citing a new protocol from U.S. Renal Care that impacted dosing practices, leading to a decline in channel inventory and lower-than-expected Q4 revenue for Vafseo. It added that the inventory adjustment weighed on near-term results despite the company’s broader outlook remaining intact.
Akebia Therapeutics Inc. concentrates on the development and commercialization of medicines for kidney diseases. Its product portfolio includes Vafseo (vadadustat) and Auryxia. Additionally, it is working on AKB-10108 for the treatment of retinopathy of prematurity in neonates and AKB-9090 for treating cardiac surgery-related acute kidney injury and acute respiratory distress syndrome, which is undergoing Phase 2 of its clinical trial.
8. Lineage Cell Therapeutics Inc. (NYSE:LCTX)
Lineage Cell Therapeutics Inc. (NYSE:LCTX) is one of the 10 best penny stocks that could triple your money.
On March 24, Lineage Cell Therapeutics Inc. announced the launch of COR1, a new preclinical cell therapy program targeting corneal endothelial disease. The company is leveraging its proprietary AlloSCOPE platform to develop scalable off-the-shelf cell therapies aimed at addressing the global shortage of donor corneal cells. Management highlighted the program as a natural extension of its platform and a step toward expanding its presence in ophthalmology while supporting long-term growth. Commenting on the update, CEO Brian Culley stated:
“We have elected to advance the COR1 program into preclinical testing and we also believe the recent accomplishments reported with our AlloSCOPE “5D” manufacturing process could be applied to this program to further reduce production costs through large-scale production.”
Earlier on March 6, Lineage Cell Therapeutics Inc. reported fourth quarter revenue of $6.6 million compared to $2.9 million last year. Chief Executive Officer Brian M. Culley stated that 2025 was a very productive year for the Lineage team. Culley emphasized that the company’s mission is to pioneer the emerging field of allogeneic cell therapy outside oncology by applying its proprietary cell manufacturing technology platform, AlloSCOPE, to the production and transplantation of differentiated cell types intended to replace cells a patient has lost or lost function of due to various conditions.
Lineage Cell Therapeutics Inc. is working in the US and internationally on developing cell replacement therapies for critical illnesses. Its portfolio includes OpRegen in Phase 2a of clinical trial, OPC1 in Phase 1/2a multicenter clinical trial, ReSonance (ANP1) and PNC1, both in preclinical development stage, and is also developing RND1.
7. Gevo Inc. (NASDAQ:GEVO)
Gevo Inc. (NASDAQ:GEVO) is one of the 10 best penny stocks that could triple your money.
On March 19, Gevo Inc. announced it is delivering sustainable fuels to global motorsports. Through the production and sale of its patented, unique racing fuel blendstock, the company generated $5 million in revenue in 2025. Global motorsports initiatives to use sustainable fuels continue with the start of the 2026 racing season, while MotoGP hopes to use 100% non-fossil fuels by 2027.
The 2026 Formula One season also began with drivers using cutting-edge sustainable fuel. IndyCar is still dedicated to using renewable fuels, while NASCAR has added zero-carbon bioethanol as a blending component.
Back on February 11, Gevo Inc. announced the closing of a refinancing transaction aimed at simplifying its capital structure. The company redeemed about $68 million in bonds tied to its renewable natural gas unit, freeing up over $35 million in restricted cash without increasing overall debt. It also secured a $175 million loan facility with Orion Infrastructure Capital and a $20 million revolving credit line with Huntington National Bank to support working capital needs.
Gevo Inc. works on abating carbon, providing different kinds of fuel, specific items for the food chain, hydrocarbons for gasoline, and plastic material. It is also engaged in the development, construction, and operation of Alcohol-to-Jet initiatives. Its GevoRNG segment works on converting methane emissions into renewable natural gas, whereas the Verity platform works on different sections of the supply chain.
6. SNDL Inc. (NASDAQ:SNDL)
SNDL Inc. (NASDAQ:SNDL) is one of the 10 best penny stocks that could triple your money.
On March 12, SNDL Inc. reported its fourth quarter EPS of (6c), improving from (36c) last year, while revenue came in at $252.5 million compared to $257.7 million a year ago. The company highlighted continued progress in financial performance, with gains recorded across its income statement and free cash flows.
Management also shed light upon the ongoing efforts to strengthen the operations and position the business for long-term sustainable growth. Commenting on the progress, CEO Zach George stated:
“2025 represents another step forward in financial performance and strategic focus for SNDL (SNDL). We are pleased to report new records across our income statement and free cash flow, while continuing to transform our business to support long-term, sustainable, and profitable growth, we are strengthening our performance culture and organizational capabilities, providing a solid foundation as we continue to raise the bar toward our vision of becoming a global leader in our industry.”
SNDL Inc. is engaged in producing, distributing, and selling cannabis products for adult and medicinal use. Through its retail banners, the company also sells beers, wines, and spirits. Through its corporate-owned and franchised stores, it also privately sells cannabis items and accessories for adult use. Additionally, it manufactures and sells vapes, pre-rolls, and flower while also providing proprietary cannabis processing services.
5. ProKidney Corp. (NASDAQ:PROK)
ProKidney Corp. (NASDAQ:PROK) is one of the 10 best penny stocks that could triple your money.
On March 19, ProKidney Corp. announced fourth-quarter revenue of $893,000 against consensus estimates of $600,000. The company provided updates on its clinical progress and strategic priorities for advancing rilparencel through regulatory pathways.
Image: Depositphotos
Chief Executive Officer Bruce Culleton stated that 2025 had been an important year for the company, marked by the positive Phase 2 study for REGEN-007, alignment with the FDA on the accelerated approval pathway for rilparencel, and robust enrollment for the Phase 3 PROACT 1 study.
The company is well-positioned to achieve upcoming key milestones, including the completion of the enrolment for the Phase 3 PROACT 1 study this year and the pivotal eGFR slope data from the study in the second quarter of 2027. Culleton stated:
“Our mission remains highly focused on bringing a potential new treatment option to patients with advanced CKD and diabetes at high risk of kidney failure – an area of high unmet medical need.”
The company continues to advance its development program to address gaps in chronic kidney disease treatment.
ProKidney Corp. is engaged in developing cell therapies for the treatment of chronic kidney diseases. Its product portfolio includes rilparencel which is in Phase III of clinical trial. Alongside this, the company is developing different cryopreserved versions of rilparencel, with each one in a different phase of clinical trials.
4. Coherus Oncology Inc. (NASDAQ:CHRS)
Coherus Oncology Inc. (NASDAQ:CHRS) is one of the 10 best penny stocks that could triple your money.
On March 10, Coherus Oncology Inc. reported its fourth quarter EPS of (34c) above the street consensus of (31c), while revenue came in at $12.8 million versus $14.1 million expected.
The company highlighted strong progress in 2025, including a significant increase in LOQTORZI sales and a major reduction in debt levels. Management emphasized its transition toward an oncology-focused business, supported by growing revenues, potential partnership opportunities, and a pipeline with multiple clinical catalysts expected in 2026. Commenting on the update, Coherus chairman and CEO, Denny Lanfear, stated:
“We are pleased with our progress in 2025, having doubled LOQTORZI sales while completing the transformation from a biosimilars company to an innovative oncology company focused on overcoming immune resistance in cancer. At the same time, we continued to reduce our overall debt since its peak in 2024 by over 90% to $38.8 million, we are now strategically positioned with growing revenues from our foundational PD-1 inhibitor, potential deal opportunities across the portfolio and geographies, and two promising pipeline candidates with multiple 2026 clinical readouts.”
Coherus Oncology Inc. works on immunotherapies to treat cancer. Its product portfolio includes UDENYCA, LOQTORZI, Casdozokitug, and CHS-114. It also has various agreements, including a collaboration agreement, license agreements, and out-licensing agreements with different companies.
3. Vertical Aerospace Ltd. (NYSE:EVTL)
Vertical Aerospace Ltd. (NYSE:EVTL) is one of the 10 best penny stocks that could triple your money.
On March 24, Vertical Aerospace Ltd. held its fourth quarter 2025 earnings call and full-year business strategy update. The company’s progress on its Valo electric vertical takeoff and landing (eVTOL) aircraft development and certification plan was discussed by Chairman Domhnal Slattery.
Slattery emphasized that Vertical Aerospace is conducting piloted flight tests of its full-scale Valo prototype for 20 months, and pilot transition tests are going well under the oversight of the UK Civil Aviation Authority. The company is close to completing the transition flight test phase, methodically progressing towards the closure of the range between hover and wing-borne flight modes.
Slattery also admitted that the company is continuing to explore opportunities for capital raising across capital markets, strategic partners, and government support for the route through certification. Chief Engineer David King stated:
“We are nearing completion of the transition flight test phase, and the data we are collecting each flight is directly informing certification of our final commercial design. By working closely with the CAA upfront, we now have a clear, well-defined, tried and tested path to certification.”
Vertical Aerospace Ltd. is an aerospace technology company that designs and manufactures zero-emission electric vertical takeoff and landing (eVTOL) aircraft. Through its flagship VX4 aircraft, the company is on a mission to advance air mobility and make urban travel more sustainable.
2. OmniAb Inc. (NASDAQ:OABI)
OmniAb Inc. (NASDAQ:OABI) is one of the 10 best penny stocks that could triple your money.
On March 5, OmniAb Inc. reported fourth-quarter revenue of $8.4 million, coming in below consensus estimates of $9.0 million. The company closed 2025 with a growing base of 107 active partners and a growing portfolio consisting of 407 active programs.
The company’s Chief Executive Officer, Matt Foehr, mentioned that the company’s differentiated technologies underpin its business outlook and enable it to grow the partner base while maintaining a disciplined cost structure. As the partner pipeline moves forward, some assets are emerging that have the potential to drive material milestones and recurring royalty revenue. Shedding light on the recent launch and the company’s drive towards innovation, Foehr stated:
“Our focus on innovation was evident in the recent launch of OmniUltra(TM), which strengthens our ability to attract new partners and service new programs. Additionally, we continue to see strong interest in the xPloration partner access program and are excited about its contributions to the business.”
OmniAb Inc. provides licenses to pharmaceutical and biotech companies for discovery research technology around various parts of the world. To find the best antibodies and other target-binding proteins for partners’ drug development efforts, the company’s technology platform creates and screens diverse antibody repertoires. Animal-based technologies are also offered by the company.
1. Ocugen Inc. (NASDAQ:OCGN)
Ocugen Inc. (NASDAQ:OCGN) is one of the 10 best penny stocks that could triple your money.
On March 24, Ocugen Inc. announced 12-month data from the Phase 2 ArMaDa clinical trial evaluating OCU410, its modifier gene therapy for geographic atrophy secondary to dry age-based macular degeneration.
Some key findings from Phase 2 have included a 31% reduction in lesion growth in the optimal dose group compared with the control group. They also incorporated a 27% slower rate of ellipsoid zone loss compared to control, indicating a preservation of structure within the retina, and a 55% response rate for patients treated with OCU410, with a reduction in lesion size of 30% compared to control.
The Phase 2 clinical trial follows on from the clean safety data observed in Phase 1, with no serious adverse events related to OCU410 observed and with no endophthalmitis, retinal detachment, vasculitis, choroidal neovascularization, or ischemic optic neuropathy observed to date. Ocugen aims to start the OCU410 Phase 3 registrational trial in the third quarter of 2026, in line with the company’s ambition to submit three BLA filings in three years.
On March 11, Lucid Capital analyst Elemer Piros increased the firm’s price target on Ocugen Inc. from $15 to $22, while maintaining his Buy rating on the shares. The move follows the company’s announcement of positive preliminary Phase 2 data for its OCU410 therapy, supporting growing confidence in its potential in treating geographic atrophy.
Ocugen Inc. works on vaccines, biologics, and novel gene and cell therapies that enhance patients’ health. Its product portfolio includes various products, including OCU400 under Phase 3 trials for the treatment of retinitis pigmentosa and Phase 1/2 trials for the treatment of Leber congenital amaurosis, OCU410 and OCU410ST both in Phase 1/2, OCU200 and NeoCart OCU500, OCU510, and OCU520.
Hedge Fund Resource Center