5 Must-Buy Penny Stocks to Invest In Now

3. Iovance Biotherapeutics Inc (NASDAQ:IOVA)

Number of Hedge Fund Holders: 33

Upside Potential: 107.25%

Stock Price: $3.86

Iovance Biotherapeutics Inc (NASDAQ:IOVA) is among the must-buy penny stocks to invest in now. The stock has climbed more than 66% over the past six months and currently trades at around $3.86. On April 10, Jefferies reaffirmed a Buy rating and $12 price target on Iovance Biotherapeutics stock, indicating significant upside potential.

Jefferies cited the strength and potential of Iovance’s Amtagvi drug as factors for its renewed bullish stance on the stock. First, the firm pointed out that potential risk of competition for Amtagvi was already baked in Street’s estimates for Iovance.

With that, Jefferies says that the focus is more on Amtagvi commercial execution rather than competition. According to the firm, the upside for Iovance stock is based on continued Amtagvi sales growth and margin expansion. Jefferies also pointed out Amtagvi’s first-mover advantage.

Amtagvi is approved by the FDA as a treatment for adult patients with a type of skin cancer. It’s also being investigated as a treatment for patients with lung cancer. According to Jefferies’ forecast, Iovance may be able to obtain approval and launch Amtagvi in the lung cancer market in the back half of 2027.

In Q4 2025, Iovance’s revenue rose 30% sequentially to $87 million, exceeding the anticipated $82.03 million. The company said the topline growth was supported by strong Amtagvi demand. Iovance recorded US Amtagvi revenue of $65 million that quarter.

Iovance is underway with global expansion of the Amtagvi market. The product is already approved in Canada, and its approval applications are under review in the UK, Australia, and Switzerland. Iovance hopes to secure UK and Australian approvals in the first half of 2026 and Switzerland approval in the first half of 2027.

Iovance Biotherapeutics Inc (NASDAQ:IOVA) is an American biopharmaceutical company based in San Carlos, California. The company is focused on developing cancer treatments. It’s applying a transformative approach that harnesses the human immune system to identify and destrory. cancer cells.