Ten stocks boasted a double-digit rally on Wednesday, mimicking a broader market optimism, helped by expectations of easing tensions in the Middle East.
On Wall Street, the Nasdaq led the gains, up by 0.77 percent. The Dow Jones followed with a 0.66 percent jump, while the S&P 500 increased by 0.54 percent.
In this article, we spotlight the 10 top-performing companies on Wednesday and break down the reasons behind their gains.
To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
Photo by Tima Miroshnichenko on Pexels
10. Planet Labs PBC (NYSE:PL)
Planet Labs soared to a new all-time high on Wednesday, as investors took path from a combination of broader market optimism, as well as the progress of its manufacturing expansion in Europe.
In intra-day trading, Planet Labs PBC (NYSE:PL) soared to a record high of $37.05 before paring gains to end the session just up by 11.12 percent at $35.37 apiece.
The company said that it has begun recruiting highly-skilled German talent to operationalize its upcoming satellite manufacturing facility in Berlin, as part of its plan to double the production capacity of its next-generation, high-resolution Pelican fleet, while reinforcing the European country’s role as a hub for advanced aerospace engineering.
Some 70 individuals are targeted to be hired in addition to the existing 150 employees, including high-level leadership and specialized technical roles such as director of manufacturing, mission director for constellation services, and multiple engineering roles.
Berlin has served as Planet Labs PBC’s headquarters for more than 10 years, acting as the Mission Control center for its global fleet of about 200 satellites. Its expansion would support the company’s $900 million worth of backlogs for the current fiscal period, which marked a 79 percent growth from fiscal year 2026.
“With this excellent backlog as well as our healthy pipeline, we project strong growth for this year and beyond,” said Planet Labs PBC Chairman and CEO Will Marshall.
9. Chewy Inc. (NYSE:CHWY)
Chewy bounced back by 13.30 percent on Wednesday to finish at $26.57 apiece, as investor sentiment was bolstered by its upbeat growth outlook for the year, encouraged by a strong sales performance in 2025.
In an updated report, Chewy Inc. (NYSE:CHWY) said that it is targeting to grow its net sales by 7.9 to 9 percent to a range of $13.60 billion to $13.75 billion, versus the $12.6 billion last year. Adjusted EBITDA margin is also projected to increase by 6.6 to 6.8 percent.
For the first quarter alone, net sales are pegged at $3.33 billion to $3.36 billion, or an implied growth of 6.7 to 7.7 percent from the $3.12 billion registered in the same quarter last year.
Despite strong sales, Chewy Inc. saw its net income last year drop by 43 percent to $222.8 million from $392.7 million in 2024. However, net income for the fourth quarter alone surged by 72 percent to $39.2 million from $22.8 million year-on-year.
Prior to its financial release, investment firm TD Cowen reiterated its “buy” recommendation and $39 price target for the stock, given its 18 percent CAGR in its EBITDA for years 2026 to 2031, as well as its relative insulation from potential tariffs and recession headwinds versus its counterparts.
8. Enliven Therapeutics Inc. (NASDAQ:ELVN)
Enliven Therapeutics soared to a new five-year high on Wednesday, as investors took heart from two analysts’ optimistic coverage for the stock, with one raising its price target by 9.7 percent.
In intra-day trading, the stock climbed to a record high of $36.65 before paring gains to finish the session just up by 14.06 percent at $35.53 apiece.
In a market note, Mizuho raised its price target for Enliven Therapeutics Inc. (NASDAQ:ELVN) to $45 from $41 previously, while maintaining an “outperform” rating. The new price marked a 27 percent upside potential from its latest closing price.
Meanwhile, Clear Street reiterated its “buy” recommendation and $36 price target, a mere 1.3 percent upside, but reflected optimism for the $9 billion chronic myeloid leukemia (CML) therapy market.
The rally was further fueled by Merck’s acquisition of Enliven’s competitor, Terns Pharmaceuticals, for $6.7 billion, suggesting the former’s strong opportunity in the CML market.
For its part, Enliven Therapeutics Inc. is underway with the early clinical study of its own CML treatment candidate called ELVN-001, with the third phase targeted for this year.
7. Intuitive Machines Inc. (NASDAQ:LUNR)
Intuitive Machines soared by 14.68 percent on Wednesday to close at $20.55 apiece after bagging home $180.4 million worth of new contracts from the National Aeronautics and Space Administration (NASA).
In a statement, Intuitive Machines Inc. (NASDAQ:LUNR) said that the amount would cover the delivery of seven science and technology payloads— including an Australian Space Agency lunar rover and technologies from Blue Origin’s Honeybee Robotics—to the Lunar South Pole Region.
Intuitive Machines Inc. said that the award marked its fifth task order and the first to require the larger Nova-D lander cargo class.
“This CLPS award accelerates our expansion efforts as we build, connect, and operate the systems powering that infrastructure,” Intuitive Machines Inc. CEO Steve Altemus said.
“We look forward to working closely with NASA to deliver mission success on IM-5 and to provide sustained operations and persistent connectivity in the cislunar environment and across the solar system,” he added.
The IM-5 mission will target Mons Malapert—a ridge near the Lunar South Pole that offers continuous Earth visibility, stable illumination conditions, and access to permanently shadowed regions.
The IM-5 lander will also carry the Honeybee Robotics next-generation lunar rover, which will host the NIRVSS instrument suite.
Honeybee Robotics, a Blue Origin company, develops advanced robotic systems, rovers, and mechanisms for missions to the Moon, Mars, and other planetary bodies. It may also provide other capabilities, such as sampling, sensing, robotics, and autonomy, that will enhance surface exploration.
6. Summit Therapeutics Inc. (NASDAQ:SMMT)
Summit Therapeutics climbed by 15.44 percent on Wednesday to close at $17.94 apiece, as investors repositioned portfolios ahead of updates on a clinical trial for its lung cancer treatment candidate, Ivonescimab.
Within the second quarter of the year, Summit Therapeutics Inc. (NASDAQ:SMMT) is targeting to conduct an early analysis of its Harmoni 3 trial for the squamous group to see the efficacy of Ivonescimab combined with chemotherapy in patients with first-line metastatic non-small cell lung cancer (NSCLC). Final data on the progression-free survival (PFS) is targeted in the second half of the year.
Meanwhile, enrollment is underway for the non-squamous group, and is targeted for completion in the second half of the year. Final PFS is expected in the first half of 2027.
Meanwhile, Summit Therapeutics Inc. said that Ivonescimab is likewise being studied in a phase 3 trial to evaluate its efficacy in combination with ligufalimab—a proprietary anti-CD47 monoclonal antibody—against monotherapy pembrolizumab. The study aims to see the overall survival from the treatment.
In January this year, Summit Therapeutics Inc. successfully submitted its biologics license application for Ivonescimab, in combination with chemotherapy, in patients with EGFR-mutated locally advanced or metastatic non-squamous NSCLC, who have received prior EGFR TKI therapy.
The Food and Drug Administration provided a Prescription Drug User Fee Act (PDUFA) goal action date of November 14, 2026.
5. Firefly Aerospace Inc. (NASDAQ:FLY)
Firefly Aerospace jumped by 16.01 percent on Wednesday to close at $27.53 apiece, tracking a broader optimism for the space industry, amid reports that Elon Musk-led SpaceX is officially going public.
According to a report by The Information, SpaceX is set to submit its final prospectus with regulators as soon as this week, citing sources privy to the matter.
SpaceX is said to be attempting to raise more than $75 billion in what could be one of the largest IPOs in history, potentially valuing the company at $1.75 trillion.
Firefly Aerospace Inc. (NASDAQ:FLY) rallied alongside its counterparts, namely Rocket Lab, AST SpaceMobile, and York Space, following the report.
In other news, Firefly Aerospace Inc. earlier this month announced mixed earnings performance last year, having widened its net losses but markedly expanded its revenues.
According to the company, net loss attributable to shareholders last year increased by 25.6 percent to $333.96 million from $265.81 million in 2024. Revenues, on the other hand, soared by 163 percent to $159.8 million from $60.79 million.
In the fourth quarter alone, net loss attributable to shareholders narrowed by 60 percent to $41 million from $102.9 million, while revenues soared by 541 percent to $57.67 million from $9.03 million.
4. Arm Holdings PLC (NASDAQ:ARM)
Arm Holdings rebounded by 16.38 percent to close at $157.07 apiece, as investors gobbled up shares following news that it is making a foray into chip production and has earned the backing of Meta Platforms for the initiative.
In a statement, Arm Holdings PLC (NASDAQ:ARM) announced its entry into silicon production with the launch of AGI CPU, a new product designed for AI data centers, which is capable of addressing a rising class of agentic AI workloads.
According to Arm Holdings PLC, the CPU is capable of translating greater workload density and delivering more than twice the performance per rack versus x86 CPUs, among others.
“For more than three decades, the industry has innovated on the Arm compute platform to deliver scalable, power-efficient computing across hundreds of billions of devices. As AI transforms global computing infrastructure, partners across the ecosystem are asking for ways to deploy Arm technology at scale. In response, Arm is expanding its platform strategy beyond IP and Compute Subsystems (CSS) to include Arm-designed silicon products—giving partners the broadest set of options to build on Arm and enabling faster innovation across the AI ecosystem,” Arm Holdings PLC said.
CEO Rene Haas said that the foray “marks the next phase” and a “defining moment for our company.”
3. Corcept Therapeutics Inc. (NASDAQ:CORT)
Corcept Therapeutics rallied for a second day on Wednesday, soaring 19.66 percent to finish at $40.47 apiece, as investors snapped up shares after securing the green light of the Food and Drug Administration (FDA) to sell its ovarian cancer treatment, Lifyorli.
In an updated report, Corcept Therapeutics Inc. (NASDAQ:CORT) said that the approval was based on the success of its clinical trial, which enrolled 381 patients with platinum-resistant ovarian cancer who had received one to three prior lines of therapy, including Bevacizumab.
During the study, the company found that patients treated with Lifyorli in combination with nab-paclitaxel experienced a 35 percent and 30 percent reduction in death risk and disease progression, respectively, as compared with those patients who took nab-paclitaxel alone.
Lifyorli was also well-tolerated, having only recorded decreased hemoglobin and neutrophils, as well as fatigue, nausea, diarrhea, decreased platelets, rash and decreased appetite, as its adverse effects.
“Today’s approval of Lifyorli is an important first step, but there is much more to explore with this new mode of treatment. We extend our deep appreciation to the patients and healthcare providers who participated in the clinical trials that made this approval possible,” Corcept Therapeutics Inc. CEO Joseph Belanoff said.
Complete results from the trial are set to be presented at the Society of Gynecologic Oncology (SGO) meeting in April.
2. Braze Inc. (NASDAQ:BRZE)
Braze soared by 19.87 percent on Wednesday to finish at $21.60 apiece, after the company posted an upbeat outlook for fiscal year 2027, saying that it expects to officially swing to profitability.
In an updated report, Braze Inc. (NASDAQ:BRZE) said that it is targeting a non-GAAP net income of $69 million to $73 million, or a reversal of its $130.8 million net loss in fiscal 2026.
Revenues are also targeted to grow by 19.8 to 20.5 percent year-on-year to a range of $884 million to $889 million, versus $738 million in the last fiscal period.
Last year, revenues surged by 24 percent from $593 million, primarily driven by new customers, upsells, and renewals.
In the last quarter of fiscal 2026, ending January, Braze Inc. also widened its net loss by 85 percent to $31.58 million from $17.06 million in the same quarter a year earlier. Revenues, however, grew by 28 percent to $205.17 million from $160.4 million.
On the same day, Braze Inc. announced plans to repurchase $100 million worth of its shares, $50 million of which are targeted for accelerated implementation.
“As we enter fiscal 2027, our financial profile is sound, and we are pleased that our strong balance sheet and consistent cash generation provide us with the flexibility to invest in our business while returning capital to shareholders. This authorization provides us with the flexibility to opportunistically return capital while maintaining the strong liquidity needed to pursue our ambitious roadmap for durable, profitable growth,” CFO Isabelle Winkles said.
“We are proud of the scale we have achieved and view this share repurchase program as a clear signal of our Board and management team’s confidence in our strategy, our market opportunity, and our ability to execute against our financial goals,” she added.
1. Sarepta Therapeutics Inc. (NASDAQ:SRPT)
Sarepta Therapeutics soared by 34.98 percent on Wednesday to finish at $23.77 apiece, as investors took path from Morgan Stanley’s 25-percent price target upgrade for its stock following strong clinical results from two of its rare disease drug candidates.
In a market note, Morgan Stanley raised its price target for Sarepta Therapeutics Inc. (NASDAQ:SRPT) to $25 from $20, while maintaining an “equal weight” rating for the stock.
The coverage followed the strong results of its SRP-1001 and SRP-1003, in treating patients with facioscapulohumeral muscular dystrophy (FSHD) and myotonic dystrophy type 1, respectively, with results showing a 90 percent reduction of the target protein or mRNA after a single dose, as compared with the 50 to 60 percent range from its competitors.
FSHD and DM1 are rare genetic diseases that are caused by othe verexpression of mutant proteins or toxic mRNA.
“We are pleased that these early clinical results showed high levels of siRNA delivery to muscle, with no saturation of muscle siRNA uptake or dose-limiting safety signals to date. We believe this supports the differentiated potential of this siRNA platform and strengthens our belief that this approach could meaningfully change the treatment landscape for patients with FSHD and DM1,” said Louise Rodino-Klapac, president of the research & development and technical Operations for Sarepta Therapeutics Inc..
“These preliminary clinical data show consistent dose-dependent increases in plasma and muscle drug exposures across clinical and nonclinical studies and suggest that the αvβ6 integrin-targeting ligand mediates robust siRNA muscle delivery, which we hypothesize will ultimately enable higher dosing and translate into clinical efficacy for patients with FSHD1 and DM1,” she noted.
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