J.P. Morgan Reiterates Underweight, $50 PT On Athenahealth

In a note out today, J.P. Morgan reiterated an Underweight rating and $50 price target on Athenahealth (Nasdaq: ATHN), implying minimal upside in the stock from current levels.

"One of the overlooked takeaways from ATHN's investor day was the favorable OIG opinion the company received related to its Coordinator strategy, whereby the company will offset the cost of athenaClinicals for physicians based on the number of referrals they transmit. We gleaned incremental details on the strategy based on the OIG opinion and in this note we discuss the implications this could have for the company," the bank said in the note.

Shares of Athenahealth are down almost 1% in mid-day trading.