UPDATE: Rodman & Renshaw Lowers PT on Inovio from $4 to $2

Rodman & Renshaw has published a report on Inovio Pharmaceuticals INO, lowering the price target from $4 to $2. In the report, Rodman & Renshaw wrote, "Inovio recently reported data from a Phase 1 trial of VGX-3400X, a SynCon DNA vaccine for the prevention of avian H5N1 influenza delivered via intramuscular electroporation. Antibody responses were detected in 26 of 27 of patients. Antibodies were generated against all three vaccine antigens." Rodman & Renshaw rated Inovio Pharmaceuticals a Market Outperform with a price target lowered from $4.00 to $2.00. Inovio closed Monday at $0.69.