10 Most Oversold Penny Stocks to Buy According to Analysts

2. Nuvation Bio Inc. (NYSE:NUVB)

Price: $2.14

6-Month Performance: -30.29%

Number of Hedge Fund Holders: 34

Analyst Upside Potential: 273.83%

Nuvation Bio Inc. (NYSE:NUVB) is a clinical-stage biopharmaceutical company focused on developing innovative therapies for difficult-to-treat cancers where conventional treatments have failed. It emphasizes precision oncology, leveraging epigenetic and molecular biology insights to address drug resistance and improve patient outcomes.

On March 12, analyst Soumit Roy of JonesTrading initiated a Buy rating on the stock with a price target of $10. Roy mentioned that the company is poised to transition to a commercial-stage company by mid-2025, driven by its focus on targeted therapies for lung cancer and glioma. He noted that Taletrectinib (ROS1 inhibitor) is under FDA priority review for ROS1-positive NSCLC, with a PDUFA decision date of June 23, 2025. Phase 2 data showed an 88.8% confirmed response rate in treatment-naive patients and 55.8% in pre-treated patients. Moreover, Safusidenib (IDH1 inhibitor) is awaiting Phase 2 data in IDH1-mutant glioma, which could lead to pivotal trials in 2025. The stock has fallen around 30% over the last half year but analysts expect more than 273% upside, making it one of the most oversold penny stocks to buy according to analysts.