Rodman & Renshaw Reiterates Vical Market Outperform, $6 PT

Rodman & Renshaw reiterated its Vical VICL Market Outperform rating and $6 price target in a research report published today. In the report, Rodman & Renshaw states, "We are reiterating our Market Outperform / Speculative Risk rating for Vical and our 12-month target price of $6, based on a discounted earnings and revenue per share analysis. In addition to providing a significant near-term non-dilutive cash infusion, the partnership with Astellas provides validation of Vical's technology platform by a global pharmaceutical giant." Shares of Vical were trading at $4.56 at the time of posting, up 6.05% from Thursday's market close.