Shares of Obagi Medical Products Inc. rose 7 percent on Friday after two analyst upgrades followed the company’s fourth-quarter earnings.

The Long Beach maker of physician-dispensed skincare products late Thursday reported net income of $7.3 million (41 cents a share), 52 percent higher than in the same period a year earlier. Sales fell 1 percent to $30.3 million.

Excluding gains from a one-time insurance payment, Obagi’s profit was 15 cents a share. Analysts surveyed expected adjusted net income of 20 cents a share on revenue of $30 million.

Cantor Fitzgerald LP and EVA Dimensions upgraded shares from “hold” to “buy.” Cantor analyst Irina Rivkind said Obagi shares could reach $19 in the next 12 months. She noted that the company intends to launch several new products and expand its Asian business this year. It also has taken steps to reduce sales from unauthorized discount online sites and expand its online sales channel for physician partners.

“We think Obagi remains an attractive target in a space rife with consolidation,” Rivkind said in a note to investors.

Shares on Friday closed up 97 cents, or 7 percent, to $14.91 on the Nasdaq.