Leerink Partners reiterated an Outperform rating on WebMD Health Corp. (NASDAQ: WBMD), and raised the price target to $62.00 (from $61.00), following the company's 4Q earnings report. WebMD reported revenue of $192.1m in the quarter, beating consensus by $2.2m. The beat was primarily attributable to better than feared declines in Private Portal and Information Services revenue. EPS for 4Q came in at $0.60, solidly beating consensus by $0.03. Management guided 2016 revenue, Adj. EBITDA and EPS above the Street as they are seeing strong ad demand from biopharma and are realizing operating leverage.

Analyst Steven Wardell commented, "After market close on Tuesday, WebMD reported 4Q15 results above expectations and provided strong guidance that supports our thesis. Management guided 2016 revenue, Adj. EBITDA and EPS above the Street as they are seeing strong ad demand from biopharma and are realizing operating leverage. This print gives us confidence in our thesis around the shift in pharma ad spend from offline to online and WBMD's leading position. We reiterate our OP rating, raise our estimates to reflect guidance, and take up our PT to $62 from $61."

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Shares of WebMD Health Corp. closed at $51.93 yesterday.