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 (Nasdaq: AKRX) slid as much as 12.6% after receiving an analyst downgrade from Deutsche Bank.

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 (Nasdaq: VPHM) loss of Vancocin from patent expirations was going to provide a big boost to Akorn's bottom line, even with rival Watson Pharmaceuticals (NYSE: WPI) competing to make a generic version of the drug. Today's move brings the stock closer to my CAPS portfolio limit order target of $11.50. With 39 abbreviated new drug applications currently in its pipeline, Akorn has plenty of avenues for long-term growth.

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.