11 Best Penny Stocks with the Highest Upside Potential

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1. ImmunityBio, Inc. (NASDAQ:IBRX)

Price: $2.46

Number of Hedge Fund Holders: 14

Analyst Upside Potential: 225.20%

ImmunityBio, Inc. (NASDAQ:IBRX) is one of the Best Penny Stocks to Buy with the Highest Upside Potential. On September 8, ImmunityBio, Inc. (NASDAQ:IBRX) announced new findings from its Phase 2 QUILT-3.055 study. The study tested ANKTIVA, which helps reverse lymphopenia.

The results show that reversing lymphopenia with ANKTIVA led to significantly longer median overall survival. Patients whose lymphocyte counts increased above 1,200 cells/μL had better survival outcomes. Moreover, ANKTIVA is the first therapy being tested to treat lymphopenia caused by cancer treatments like chemotherapy and radiotherapy.

Wall Street has been bullish on ImmunityBio, Inc. (NASDAQ:IBRX) since the release. On September 9, Justin Zelin from BTIG reiterated a Buy rating on the stock with a price target of $6. More recently, on September 17, H.C. Wainwright also reiterated a Buy rating on the stock with a price target of $8.

ImmunityBio, Inc. (NASDAQ:IBRX) is a clinical-stage biotechnology company focused on developing therapies that strengthen the natural immune system to fight cancer and infectious diseases.

While we acknowledge the potential of IBRX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IBRX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.

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