NovoCure (NVCR) shares ended the last trading session 10.7% higher at $17.78. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 10.6% loss over the past four weeks.

Shares of the company rallied after the FDA approved its Optune Lua device, used for the treatment of metastatic non-small cell lung cancer.

This oncology drug developer is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of +26.1%. Revenues are expected to be $144.01 million, up 13.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For NovoCure, 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 NVCR 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 >>>>

NovoCure belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Lineage Cell (LCTX), closed the last trading session 3.1% lower at $0.83. Over the past month, LCTX has returned -7.5%.

For Lineage Cell , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.04. This represents no change from what the company reported a year ago. Lineage Cell currently has a Zacks Rank of #3 (Hold).

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