We recently published a list of Why These 10 Stocks Soared Today. In this article, we are going to take a look at where Elanco Animal Health Incorporated (NYSE:ELAN) stands against other Wednesday’s best-performing stocks.

The stock market rebounded on Wednesday, with all major indices ending in the green as investors cheered the Federal Reserve’s decision to keep interest rates unchanged.

On Wednesday afternoon, the Fed kept rates steady at a range of 4.25 percent to 4.5 percent, saying that it was not in a hurry to cut rates and could still “wait and see” the impact of President Donald Trump’s tariff policies.

The Dow Jones rallied by 0.70 percent, the S&P 500 increased by 0.43 percent, and the Nasdaq grew by 0.27 percent.

Beyond the major indices, 10 firms stood out with strong gains, thanks to a flurry of fresh developments, including new partnerships, optimistic outlooks, and impressive earnings performance. In this article, we name Wednesday’s 10 best-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.Why Elanco Animal Health Incorporated (ELAN) Skyrocketed On Wednesday

A farmer tending to a herd of cattle with Innovative Parasiticide and Vaccine Products.

Elanco Animal Health Incorporated (NYSE:ELAN)

Elanco Animal Health saw its share prices soar by 26.29 percent on Wednesday to end at $12.01 apiece following an impressive net income performance coupled with an optimistic outlook for the rest of the year.

In its latest earnings release, Elanco Animal Health Incorporated (NYSE:ELAN) said net income for the first quarter of the year expanded by 109 percent to $67 million from $32 million in the same period last year, despite total revenues dipping by 1 percent to $1.19 billion from $1.2 billion year-on-year, weighed down by an unfavorable impact from the aqua divestiture coupled with foreign exchange losses during the quarter.

Despite this, Elanco Animal Health Incorporated (NYSE:ELAN) remains optimistic for the rest of the year, having raised its revenue guidance to a range of $4.51 billion to $4.58 billion.

Net loss, on the other hand, is expected to widen to a range of $7 million to $35 million.

“We are raising our 2025 full-year revenue guidance and maintaining our adjusted EBITDA and adjusted EPS ranges,” said CFO Todd Young.

“On tariffs, we have taken several intervention actions, positioning us well to cover potential impacts with or without the pharmaceutical exemption,” he added.

Overall, ELAN ranks 2nd on our list of Wednesday’s best-performing stocks. While we acknowledge the potential of ELAN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ELAN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.

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