5 Top Stock Gainers for Wednesday: Kindred, SoFi, Rambus

Stocks were finished lower Wednesday as investors awaited a policy update from the Federal Reserve.

Here are some of the market's biggest gainers for Wednesday:

1. Kindred Biosciences | Increase 46%

Shares of Kindred Biosciences  (KIN) - Get Report soared after the company said that it was being acquired by Elanco Animal Health  (ELAN) - Get Report for about $440 million. 

Elanco will pay $9.25 a share, a premium of 52% over Kindred's 30-day average.

2. SoFi Technologies | Increase 5%

SoFi Technologies  (SOFI) - Get Report advanced after Rosenblatt Securities analyst Sean Horgan initiated coverage of the consumer-focused financial-services platform with a buy rating and $30 price target. 

Horgan said challenger banks like SoFi command a powerful cost advantage over incumbents.

3. Centene | Increase 3.7%

Centene  (CNC) - Get Report advanced after the health-care insurer's annual earnings forecast came within analysts' estimates. 

The company affirmed its full-year 2021 adjusted-earnings estimate of $5.05 to $5.35 a share. The FactSet consensus calls for earnings of $5.23 a share.

4. Rambus | Increase 8.2%

Rambus  (RMBS) - Get Report climbed after the Silicon Valley chip designer said it had initiated an accelerated program to buy back about $100 million of its common stock. The move is part of a 20-million-share buyback the board authorized in October.

5. Sunrun | Increase 11%

Sunrun  (RUN) - Get Report rose after Morgan Stanley analyst Stephen Byrd raised his price target on shares of the solar energy provider to $91 from $86. 

Byrd views the stock "as the most compelling overweight among our clean energy stock coverage." 

He was "especially positive" about the agreement between Sunrun and Ford  (F) - Get Report, where the company became the home charging and integration systems provider for Ford's electric pickup truck, the F-150 Lightning.