PiperJaffray Reports on Athenahealth

PiperJaffray commented on Athenahealth (NASDAQ: ATHN) in a report released yesterday. In the report, PiperJaffray was positive in its assessment of the company.

PiperJaffray writes, "In our view, upside to the stock will be primarily driven by upward revisions to estimates. This will happen upon execution of the enterprise strategy, outperformance (vs. guidance) on the gross margin line, and a full roll-out of the new Care Coordinator platform. We are buyers of the stock in front of new Enterprise wins which we believe will accelerate the doc count and drive upside to street consensus."

PiperJaffray currently has an Overweight rating on Athenahealth and a price target of $49. Shares of Athenahealth closed on Tuesday at $43.97, down from $45.34 at the opening bell.