Delcath Systems, Inc. (DCTH Quick QuoteDCTH - Free Report) shares soared 6.6% in the last trading session to close at $11.72. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.3% gain over the past four weeks.

Optimism over the company’s upcoming investor event on updated Focus trial data is driving the stock higher. The presentation is scheduled on Dec 2, 2021. The event will feature discussion on percutaneous hepatic perfusion, updated Focus trial data and the role of Hepzato Kit (melphalan hydrochloride for injection/Hepatic Delivery System) as a potential treatment for patients with hepatic-dominant metastatic ocular melanoma.

This company is expected to post quarterly loss of $0.91 per share in its upcoming report, which represents a year-over-year change of +21.6%. Revenues are expected to be $0.58 million, up 69.1% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Delcath Systems, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DCTH going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>