The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) is among the hidden penny stocks to invest in. As of June 10, Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was trading near the low levels reported on June 3, before the stock appreciated following the Australian approval of Amtagvi. The stock has returned to its pre-approval levels.

On June 4, TheFly reported that Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) has received conditional approval of Amtagvi from the Therapeutic Goods Administration of Australia. This marks the third marketing authorization for Amtagvi, underscoring a huge step forward in a market with the highest rate of melanoma globally.

Copyright: hafakot / 123RF Stock Photo

Overall, 80% of the analysts are bullish on Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), with the remaining 20% neutral. On May 8, Chardan trimmed the price target on the company from $16 to $14 and reiterated a Buy rating. In a research note, the analyst attributed this model readjustment to the revised Amtagvi launch guidance. Management now forecasts Q2 Amtagvi revenue to be between $79 million and $81 million. With this potential, the company has secured a spot among the hidden penny stocks to invest in.

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), incorporated in 2007, is a California-based commercial-stage biopharmaceutical company specializing in cell therapies for metastatic melanoma and other solid tumor cancers.

While we acknowledge the potential of IOVA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.