In this article, we deep dive into the 5 stocks that delivered outsized gains on Thursday. For a deeper discussion and an extended list, please see 10 Stocks Delivering Eye-Popping Gains.

5. Lightwave Logic Inc. (NASDAQ:LWLG)

Lightwave rallied for a second day on Thursday, climbing 16.67 percent to finish at $13.72 apiece, as investors increased their exposure in high-growth stocks, with sentiment remaining fueled by the booming AI.

The stock also mirrored the rally on Wall Street’s indices, with the Dow Jones and the S&P 500 clocking more than 1 percent gains. The Nasdaq, on the other hand, increased by 0.89 percent.

In recent news, Lightwave Logic Inc. (NASDAQ:LWLG) announced that its high-speed modulator platform was made available as part of the GDSFactory process design kit, which GlobalFoundries uses for its silicon photonics manufacturing platform.

Lightwave Logic Inc. (NASDAQ:LWLG) said that it partnered with GDSFactory for the integration of its polymer-based modulator technology into the GDSFactory PDK, enabling customers to incorporate high-speed electro-optic polymer modulators directly into their photonic integrated circuit designs for tape-out on GF’s silicon photonics platform.

The expanded PDK and integrated design flow support simulation, verification, and fabrication handoff within the GDSFactory environment, providing a manufacturable pathway from design to foundry execution.

“Making our high-speed modulator platform available within the GDSFactory PDK represents a significant step toward commercial deployment,” Lightwave Logic Inc. (NASDAQ:LWLG) President and CEO Yves LeMaitre said.

“With the support from GDSFactory, we are enabling customers to move confidently from architecture to tape-out while leveraging GlobalFoundries’ leading silicon photonics platform,” he added.

4. Erasca Inc. (NASDAQ:ERAS)

Erasca snapped a four-day losing streak on Thursday, soaring 16.90 percent to close at $10.65 apiece, as investors resorted to bargain-hunting following a steep plunge in the previous trading days, with sentiment fueled by renewed optimism for its cancer treatment candidate.

It can be recalled that shares of Erasca Inc. (NASDAQ:ERAS) fell sharply in the past few days following the confirmation of the death of a patient previously enrolled in the first phase of clinical study for its treatment candidate, ERAS-0015.

In a call with analysts, the company said that a 66-year-old man succumbed after electing to withdraw supportive care during the trial after developing Grade 3 pneumonitis on 24 mg.

Erasca Inc. (NASDAQ:ERAS), however, deemed the case a “rare event.”

Despite the incident, Erasca Inc. (NASDAQ:ERAS) maintained ERAS-0015 as potentially the best-in-class amid positive preliminary data from the first phase across all other enrolled patients.

According to the company, ERAS-0015 demonstrated favorable response rates, with more than half of enrolled lung cancer patients seeing their tumors shrink, and around 50 percent of pancreatic cancer patients saw shrinkage.

ERAS-0015 also demonstrated a favorable safety profile and recorded only low-grade adverse events.

“We are thrilled with the robust efficacy results demonstrated so far by our pan-RAS inhibitor ERAS-0015 in patients with lung and pancreatic cancer. The magnitude of clinical benefit seen during dose escalation is particularly striking and compares favorably with other pan-RAS, pan-KRAS, or KRAS-mutant selective inhibitors,” said Erasca Inc. (NASDAQ:ERAS) Chairman and CEO Jonathan Lim.

“Notably, preliminary data support ERAS-0015 may be combined with standard-of-care doses of panitumumab, positioning it as a potential backbone therapy for future combination regimens. Together, we believe these findings support the best-in-class potential of ERAS-0015, and we look forward to continued progress in our Phase 1 monotherapy dose expansion cohorts and combination dose escalation cohorts,” he noted.

3. USA Rare Earth Inc. (NASDAQ:USAR)

Shares in USA Rare Earth jumped by 17.88 percent on Thursday to close at $25.97 apiece, as investors positioned portfolios in high-growth stocks, supported by a broader market optimism.

USA Rare Earth Inc. (NASDAQ:USAR) mirrored the rally in the wider market during the day, with the Dow Jones and the S&P 500 both clocking more than 1 percent gains. The Nasdaq, on the other hand, rose by 0.89 percent.

Further buoying sentiment was recent news that it successfully acquired a rare earth miner for $2.8 billion.

According to USA Rare Earth Inc. (NASDAQ:USAR) it inked a definitive agreement with Serra Verde Group for the acquisition of its entire stake for a combination of cash and stock transaction.

Serra Verde, which owns the Pela Ema rare earth mine and processing plant in Goiás, Brazil, will be acquired for $300 million in cash and more than 126.8 million USAR shares.

The transaction is expected to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals.

“The acquisition of Serra Verde represents a transformational step in delivering on our ambition to build a global champion and the partner of choice in rare earth elements, oxides, metals and magnets,” USA Rare Earth Inc. (NASDAQ:USAR) CEO Barbara Humpton said, noting that Serra Verde is the only producer outside Asia capable of supplying all four magnetic rare earths at scale, including Dysprosium, Yttrium, and Terbium.

“By combining Serra Verde’s world-class operations and team with our processing, separation, metallization, and magnet-making capabilities, we are advancing our goal of creating a fully integrated platform that will serve as a cornerstone of global rare earth supply security for decades to come,” she added.

2. Vistance Networks Inc. (NASDAQ:VISN)

Vistance Networks saw its share prices jump by 22.21 percent on Thursday to finish at $12.80 apiece, as investors loaded portfolios following a stellar earnings performance and news that it would pay another round of special dividends from the sale of a business unit.

In an updated report, Vistance Networks Inc. (NASDAQ:VISN) said that its net income soared by 602 percent to $5.5 billion from only $784 million in the same period last year. Net sales increased by 21.6 percent to $471.8 million from $388.1 million year-on-year, primarily driven by higher sales in both the Aurora and Ruckus segments, with growth seen across Europe, the Middle East, Africa, and the Asia Pacific, while sales declined across the Caribbean, Latin America, and Canada.

In other news, Vistance Networks Inc. (NASDAQ:VISN) announced the sale of its enterprise networking solutions business, Ruckus, to Belden Inc. for an all-cash transaction worth $1.846 billion.

The sale is expected to be completed in the second half of the year, subject to customary closing conditions, including receipt of regulatory approvals.

Vistance Networks Inc. (NASDAQ:VISN) said that a portion of the proceeds will be distributed to shareholders by way of special dividends, the amount and timing of which will be determined by the board after closing.

1. Garrett Motion Inc. (NASDAQ:GTX)

Garrett Motion soared to a fresh all-time high on Thursday, as investors took heart from the company’s strong earnings performance in the first quarter of the year, and a higher growth outlook for the full-year period.

At intra-day trade, the stock climbed to its highest price of $25.77 before paring gains to finish the session just up by 24.99 percent at $25.61 apiece.

In an updated report, Garrett Motion Inc. (NASDAQ:GTX) said that it grew its net income by 53 percent to $95 million from $62 million in the same period last year, primarily driven by a $17 million jump in gross profits and a $7 million higher non-operating income.

Net sales grew by 12 percent to $985 million from $878 million year-on-year, driven by strong demand from commercial vehicle off-highway and industrial, supported by a higher share in passenger vehicles.

Encouraged by the results, Garrett Motion Inc. (NASDAQ:GTX) raised its GAAP net income forecast to a range of $300 million to $360 million, from $295 million to $335 million previously.

It also upgraded the upper end of its net sales growth guidance to $3.9 billion from $3.8 billion, while the lower end was maintained at $3.6 billion.

In other news, Garrett Motion Inc. (NASDAQ:GTX) announced the distribution of $0.08 in dividends to all shareholders on record as of June 1, 2026, payable on June 15.

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

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge fund investor letters by entering your email below.