5 Best Penny Stocks That Could Skyrocket in 2026

​4. Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Number of Hedge Fund Holders: 33

Upside Potential: 137.50%

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is one of the Best Penny Stocks That Could Skyrocket in 2026. On June 4, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) with a price target of $9. The analyst noted two key positive developments for AMTAGVI, which is Iovance’s lead therapy.

​Firstly, AMTAGVI received conditional approval in Australia. The analyst noted that the Australian market is prominent due to a high burden of advanced melanoma. Pantginis sees this as a meaningful regulatory validation and a new revenue opportunity that diversifies Iovance beyond the US market.

​The analyst noted that the Australian rollout is expected to be slow initially as treatment centers need time to onboard for a complex cell therapy. However, he believes the commercial contribution will build progressively over time.

Secondly, the long-term data presented by management at ASCO 2026 reinforced AMTAGVI’s durability of benefit in heavily pretreated melanoma patients. As a result, Pantginis sees a compelling risk-reward setup, with international expansion and supportive clinical data combining to justify his bullish stance on the stock.

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is a biopharmaceutical company that develops and commercializes cell therapies as novel cancer immunotherapy products.