Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of generic-drug producer Akorn
So what: Earlier today, Deutsche Bank downgraded Akorn from "buy" to "hold" and lowered its price target from $15 to $14 due to what it feels are limited generic growth opportunities. Deutsche said that Akorn's newly revised 2013 and 2014 EPS estimates are below its original forecasts, it appears richly valued, and it lacks a blockbuster generic drug in its pipeline.
Now what: Music to my ears, as far as I'm concerned! Analyst downgrades are generally white noise. They rarely have an effect beyond the day of the announcement and shouldn't be too important to your investment thesis.
As for me, I took a closer look at Akorn in early June and came to the conclusion that ViroPharma's
Craving more input? Start by adding Akorn to your free and personalized watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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