MacroGenics (MGNX) shares rallied 6.6% in the last trading session to close at $30.19. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 36.1% gain over the past four weeks.This marks the third consecutive trading day of MacroGenics’ price increase driven by optimism surrounding the anticipated commercial launch of the company’s first drug, MARGENZA (FDA approved in December 2020) this month. The drug paired with chemotherapy will be utilized for the treatment of adult patients (who have already received two or more prior anti-HER2 regimens of which one was for metastatic disease) with metastatic HER2-positive breast cancer. Market is also upbeat about the company’s solid revenue performance with full-year 2020 sales delivering an improvement of 63.4% from the year-ago period.Price and ConsensusThis biopharmaceutical company is expected to post quarterly loss of $0.53 per share in its upcoming report, which represents a year-over-year change of +41.8%. Revenues are expected to be $31.16 million, up 127.8% 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 MacroGenics, the consensus EPS estimate for the quarter has been revised 15.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MGNX 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 >>>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MacroGenics, Inc. (MGNX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research