eResearch Tech drops 13% on analyst downgrade

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eResearch Technology Inc. (Nasdaq:ERES) is down more than 13% today after analysts at Leerink Swann downgraded the company to “underperform” from “market perform.” The Philadelphia-based company provides technology and services for the pharmaceutical, biotechnology and medical device industries. In today’s trading, eResearch is at $14.36 at 10:21 a.m. ET, down $2.32 from Tuesday’s close. Trading volume is more than 100,000 shares above the average. The stock has ranged from $8.53 to $18.85 during the past 52 weeks.

For detailed price information and recent news stories about eResearch Technology Inc., click ERES.