12 Best NYSE Penny Stocks to Buy According to Analysts

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1. Nuvation Bio Inc. (NYSE:NUVB)

Price as of March 7: $1.89

Analysts upside potential as of March 7: 455.56%

Number of Hedge Fund Holders In Q4 2024: 34

Nuvation Bio Inc. (NYSE:NUVB) creates therapies and medications to diagnose, treat, and manage cancer. The company’s leading product is taletrectinib, which treats advanced ROS1-positive non-small cell lung cancer (NSCLC). Another product, although it’s yet to reach full development, is NUV-422. This targets high-grade gliomas, including glioblastoma multiforme.

The new year has been active for this company. On March 3, 2025, Nuvation Bio Inc. (NYSE:NUVB) revealed that it had secured a capital injection of $250 million from Sagard Healthcare Partners. This transaction includes $150 million in royalty interest financing, and the rest is a senior term loan. The funds come at the time when the company is working on the commercial launch of taletrectinib in the US, pending FDA approval that may come by mid-2025.

Exactly a month before, the company had initiated an Expanded Access Program (EAP) for taletrectinib in the US. The program allows patients with serious or immediately life-threatening ROS1-positive NSCLC to access the treatment outside of clinical trials. In January 2025, China’s National Medical Products Administration approved taletrectinib for administration to patients inside the Chinese territory. The drug will be marketed as DOVILERON through a partner, Innovent Biologics.

These developments fulfill the promises the management made last year when presenting the Q3 2024 financial results. During that event, the company showed that its financial position was strong (cash, cash equivalents, and marketable securities totaled $549.1 million), and it looks like the fourth quarter will be better. As such, one understands why investors believe that the stock should be trading at 455.56% of the current price, and this is why these shares take the top spot in our list of 12 best NYSE penny stocks to buy, according to analysts.

While we acknowledge the potential of Nuvation Bio Inc. (NYSE:NUVB) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NUVB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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