Pharmaceutical company Teva (NYSE:TEVA) continued its recent momentum on Wednesday, with shares hitting a novel 52-week high, reaching their highest level in more than five years, on above-average volume.

More than 12.5 million Teva (TEVA) shares have changed hands so far to its 65-day average of ~9.7 million as shares approached their highest level since February 2019.

The Israeli drugmaker is up over 79% over the past 12 months, easily outperforming its large pharma rivals, as represented by the VanEck Pharmaceutical ETF (PPH), which is up only ~15%, while the S&P 500 (SP500) is up ~21% over that time.

Teva (TEVA) shares have more than doubled since bottoming out in October as the company continued to beat revenue estimates with its quarterly financial results. Its latest Q2 results beat both the top and bottom lines, and the company raised its full-year guidance, citing YTD results.

With average Buy ratings, Wall Street analysts and Seeking Alpha agree on the bullish outlook for Teva (TEVA). However, RPA Quant System, which has been consistently beating the market, rates TEVA as a Hold.