Key Highlights

  • Surgery Partners (NASDAQ:SGRY) led the Mid cap month at 72.41%, followed by Braze at 72.03%, Liquidia at 64.79%, ADT at 58.17% and Wingstop at 54.02% in a published screener snapshot of November 5, 2026.
  • Fixed cash bids of USD 23.50, USD 47.50 and USD 10.00 per share now anchor three of the five names, which trade close to those offers rather than on growth.
  • Remaining spreads of USD 0.34, USD 1.50 and USD 0.13 (calculated) sit beside one-week moves of negative 0.41%, 0.55% and negative 0.10%, so most of the jump has already happened.
  • Liquidia (NASDAQ:LQDA) bounced back from a court setback, yet its three-month change is still negative 48.79%, while Wingstop's gain followed fiscal third quarter results.

Surgery Partners (NASDAQ:SGRY): A USD 23.50 Cash Offer From HealthSpan Partners Resets the Trading Range

Surgery Partners (NASDAQ:SGRY) rose 72.41% over a month after HealthSpan Partners, an affiliate of Bon Secours Mercy Health, agreed on October 26, 2026 to buy the company for USD 23.50 per share in cash, a deal valued at USD 5.7 billion. The stock closed that day at USD 23.25, up 47.62% from a prior close of about USD 15.75 (calculated). A fixed cash bid pulls the share price toward the offer, less a discount for time and risk, which is why the re-rating arrived in a single session. At USD 23.16 the gap to the offer is USD 0.34, about 1.5% (simple arithmetic on two published numbers), and the one-week change is negative 0.41%. Closing is expected in the first quarter of 2027, and Bain Capital holds roughly 39% of the shares. A delay or a break could send the stock back toward USD 15.75. The 52-week range runs from USD 11.41 to USD 23.37, while three-month and six-month gains stand at 53.96% and 61.81%.

Braze (NASDAQ:BRZE): Salesforce's Cash Offer at USD 47.50 Anchors the Shares

Braze (NASDAQ:BRZE) gained 72.03% over a month after Salesforce agreed on October 20, 2026 to acquire it for USD 47.50 per Class A share in cash, an Enterprise value of about USD 5.66 billion. Published coverage said the stock soared about 52% that day, and one published summary cited a premium near 58%, which is unconfirmed from a primary filing. The buyer is pursuing customer engagement data for its Marketing tools. In a cash transaction, shares move toward the offer and then trade at a discount for time and failure risk. At USD 46.00 the stock sits USD 1.50 below the offer, about 3.3% (calculated). Three-month and six-month gains are 74.37% and 108.62%, while the one-week change is only 0.55%. Closing is expected in Salesforce's fiscal year 2028, with Shareholder and regulatory approvals still pending. A broken deal would pull the shares back toward pre-bid levels, and no higher bid has been reported.

Liquidia (NASDAQ:LQDA): Settlement With United Therapeutics Rebounds a Sharp Legal Selloff

Liquidia (NASDAQ:LQDA) rose 64.79% over a month, mostly by recovering from a legal shock. A Delaware court ruled on September 30, 2026 that YUTREPIA violated 2 claims in a United Therapeutics patent, and the stock dropped roughly 57% that session and about 14% more the following day. A settlement of all 6 lawsuits followed on October 14, 2026, and the shares climbed roughly 40% in that session, reaching nearly USD 37. Under the agreement YUTREPIA stays marketed for pulmonary arterial hypertension. Net payments of roughly USD 380.7 million run through April 2027, and the PH-ILD label has to go. Preliminary third quarter YUTREPIA sales were USD 222.7 million, compared with USD 170.4 million in the second quarter. At USD 46.06 the three-month change is still negative 48.79%, the six-month change is 9.56%, and the one-week change is negative 0.37%. Risks include the cash outflow, a possible appeal and a narrower label.

ADT (NYSE:ADT): Thrive Holdings' USD 10.00 Cash Offer Caps Upside Near the Bid

ADT (NYSE:ADT) gained 58.17% over a month on a takeover. On November 3, 2026 the company reported third quarter results and said Thrive Holdings will buy it for USD 10.00 per share in cash, with closing expected in the first quarter of 2027, subject to stockholder and US antitrust approval. Revenue rose 4% to USD 1,349 million and Net Income reached USD 151 million, while adjusted EPS of USD 0.24 came alongside 2026 guidance that was withdrawn because of the pending deal. With the stock at USD 9.87, the spread is USD 0.13, or about 1.3% (calculated), which explains a one-week change of only negative 0.10%. The three-month gain is 28.85% and the six-month gain 42.22%. Upside is capped near USD 10.00 unless a rival bid emerges, and a failed deal or regulatory objection would remove that anchor.

Wingstop (NASDAQ:WING): Fiscal Third Quarter Beat and 76 Net New Restaurants Reset Sentiment

Wingstop (NASDAQ:WING) rose 54.02% over a month after fiscal third quarter results on October 28, 2026. Revenue increased 5.3% to USD 185.1 million, EPS of USD 1.08 compared with USD 1.09 one year before, and global system sales advanced 6.0% to USD 1.437 billion, but domestic same-store sales slipped 5.4%. Coverage put the reaction to the results at roughly 13%, with profit reported above forecasts. When expectations are low, a profit beat and 76 net new restaurants can persuade investors that the worst is priced in. For 2026, management expects domestic same-store sales to fall roughly 6.5% to 7%, with 440 to 450 net new units globally. Returns over one week, three months and six months are 16.52%, 40.56% and 21.12%. At USD 164.17 the price sits about 25% above the average buyback price of USD 131.12 (calculated), and weaker traffic could reverse the move.

Where Things Stand

Cash takeovers explain three of the five names, and those shares trade close to their bids. Surgery Partners (NASDAQ:SGRY) sits beneath a USD 23.50 offer. Braze (NASDAQ:BRZE) sits beneath a USD 47.50 offer. ADT (NYSE:ADT) is anchored near its USD 10.00 offer. Liquidia (NASDAQ:LQDA) bounced back from a court setback. Wingstop (NASDAQ:WING) rallied on a fiscal third quarter beat. The screen behind these figures spans small caps of 300 million to 2 billion USD and mid caps of 2 billion to 10 billion USD, using a published snapshot dated November 5, 2026. Rallies of this size can reverse because deals can fail, approvals can slip and a small number of trades can move prices.