Adobe Systems, Cadiome, Tiffany, Ampio Pharma, Gordmans Heating Up Among Traders Today

Adobe Systems Incorporated (NASDAQ:ADBE): Pacific Crest downgraded Adobe after the company reported lower than expected Q1 revenue. The firm believes that uncertainty caused by changes to the company’s product and model has reduced its visibility. RBC Capital upgraded Adobe citing its transition to more of a subscription based offering, and the upcoming release of CS6. Price target raised to $34 from $22. Shares of Adobe Systems Incorporated are trading 3.42% lower today.

CARDIOME PHARMA CORP (NASDAQ:CRME): Leerink downgraded Cardiome after Merck discontinued development of oral vernakalant. The firm lowered its price target for shares to $1 from $9. Shares of CARDIOME PHARMA CORP are trading 4.51% lower today.

Tiffany & Co. (NYSE:TIF): Excluding the nonrecurring costs recorded in FY11, Tiffany displayed growth of 10% – 13% over 2011’s $3.60 per diluted share. Most of the expected earnings growth is expected to occur in the latter part of 2012. Sees FY12 worldwide net sales up approx. 10%, primarily driven by sales growth in Asia-Pacific and the Americas. Consensus is $3.64B. Shares of Tiffany & Co. are trading 6.95% higher today.

Ampio Pharmaceuticals, Inc. (NASDAQ:AMPE): Ampio Pharmaceuticals announced that it has received notice of allowance from the US Patent Office of an additional patent that complements and expands its anti inflammatory patent portfolio for its lead drug Ampion.  Shares of Ampio Pharmaceuticals, Inc. are trading 10.21% higher today.

Gordmans Stores, Inc. (NASDAQ:GMAN): Baird raised its price target on Gordman’s following Q4 results. The firm cited solid guidance, improved execution, enhanced marketing, and accelerating unit growth. Shares are Outperform rated. Shares of Gordmans Stores, Inc. are trading 18.2% higher today.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com