01 · Challenge
The Challenge
Hayden IR represented eResearchTechnology from August 1999 to March 2006, starting from a split-adjusted share price of $0.81, a single institutional investor and no research coverage. Following rapid price appreciation, the company later faced regulatory challenges and a management change.
02 · Solution
Our Solution
- Wrote and disseminated all news releases
- Developed a corporate profile for use with the investment community
- Targeted and arranged meetings with the financial community and prepared the presentation
- Initiated quarterly conference calls and webcasts and prepared accompanying scripts
- Handled investor and prospective investor calls, requests for information, list maintenance and other IR functions
- Consulted through regulatory challenges and a management change, minimizing share price erosion
03 · Impact
The Impact
- Share price rose 1,030%, from $0.81 (August 26, 1999) to $9.15 (May 22, 2007), with a high of $29.94 in late 2004
- Average trading volume increased from 25,000 to 400,000 shares
- Institutional ownership rose from one investor to more than 130, accounting for 66% of shares outstanding
- Research coverage increased from zero to six firms
- Included in the Russell 3000 and Russell 2000 indices
- Widespread media coverage, including BusinessWeek, CIO Magazine, Investor’s Business Daily, Barron’s and The Wall Street Journal
Past results are not indicative of future performance. Figures are as reported in Hayden IR’s case study for eResearchTechnology, Inc. See our disclosures.
