5 Top Stock Gainers for Wednesday: Michaels, Alcoa, Ovid Therapeutics

Michaels, Alcoa, Horizon Acquisition, KemPharm and Ovid Therapeutics are five top gainers for Wednesday.
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Stocks finished down Wednesday following a report that showed the U.S. private sector added jobs in February at a weaker-than-expected pace.

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

1. Michaels Cos. | Increase 22%

Michaels Cos.  (MIK) - Get Report shares jumped after the arts and crafts retailer agreed to a $5 billion takeover by private-equity group Apollo Global Management. 

2. Alcoa | Increase 12%

Shares of Alcoa  (AA) - Get Report climbed after Goldman Sachs analyst Emily Chieng double-upgraded the aluminum company to buy from sell with a price target of $32, up from $19. 

Chieng said concern about Alcoa's weaker free cash flow generation relative to peers was broadly alleviated.

3. Horizon Acquisition | Increase 12%

Horizon Acquisition HZON advanced following a Bloomberg report that the special purpose acquisition company was in talks to take Swiss gambling data company Sportradar public. 

Sportradar's backers includes Michael Jordan and Mark Cuban. The company has relationships with the NFL, NBA, NHL, MLB and other sports organizations. 

4. KemPharm | Increase 43%

KemPharm  (KMPH) - Get Report rose after the Food and Drug Administration cleared the pharmaceutical company's treatment for attention deficit hyperactivity disorder in patients age 6 and older. 

The treatment, Azstarys, is a once-daily product for the treatment of ADHD. 

5. Ovid Therapeutics | Increase 36%

Shares of Ovid Therapeutics  (OVID) - Get Report surged after Takeda Pharmaceutical  (TAK) - Get Report said it would spend as much as $856 million to secure global rights from the biopharma to an experimental drug being developed to treat rare epilepsy.