11 Most Promising Penny Stocks According to Analysts

2. Iovance Biotherapeutics Inc. (NASDAQ:IOVA)

Share Price as of April 15: $3.41

Number of Hedge Fund Holders: 44

Average Upside Potential as of April 15: 486.51%

Iovance Biotherapeutics Inc. (NASDAQ:IOVA) is a commercial-stage biopharmaceutical company that develops and commercializes cell therapies using autologous tumors that infiltrate lymphocytes for the treatment of metastatic melanoma and other solid tumor cancers. It offers Amtagvi, which is a tumor-derived autologous T-cell immunotherapy for treating adult patients with unresectable or metastatic melanoma.

Amtagvi is the company’s first FDA-approved TIL cell therapy for advanced melanoma post-anti-PD-1 treatment. Amtagvi made $103.6 million in revenue for the full year 2024, which was a big portion of the total product revenue of $164.1 million. In Q4 alone, revenue was $73.7 million, with Amtagvi accounting for $48.7 million. For 2025, the company predicts product revenue between $450-475 million, driven by higher demand, more treatment centers, and continuous adoption.

On March 1, analyst Joseph Pantginis from HC Wainwright reiterated a Buy rating on the stock with a $32 price target. More than 200 patients were treated in Amtagvi’s initial launch phase. Iovance’s manufacturing network can now support over 1,200 patients annually. Iovance Biotherapeutics Inc. (NASDAQ:IOVA) established a network of around 70 authorized treatment centers (ATCs) across 32 US states and provides reimbursement access to over 95% of covered lives.

Artisan Small Cap Fund stated the following regarding Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in its first quarter 2024 investor letter:

“Among our top performers in Q1 were Shockwave, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) and Wingstop. Iovance Biotherapeutics is a biotechnology company focused on innovating, developing and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) cell therapies for cancer patients. Immuno-oncology remains a key area of drug development, and Iovance is the leader in TIL development and manufacturing, having secured the technology through collaborations with the leading academic institutions in TIL reseach. Shares rallied significantly after the company announced that the FDA approved AMTAGVI™ (lifileucel) for advanced melanoma. We added to the position.”