An old topic, but I notice no-one has mentioned the RIPS Scanner yet (see also the related project page on Sourceforge)
"RIPS is a free static source code analyser for vulnerabilities in PHP scripts"
I haven't tried it yet (just downloading it now), but it sounds like the kind of thing the question is looking for. And it's free (GPL licenced). (interesting to note that it was first released in June 2010, pretty much the same time this question was asked)
Sourceforge also threw up a few other projects:
- http://sourceforge.net/projects/securityscanner/
- http://sourceforge.net/projects/phpsecaudit/
- http://sourceforge.net/projects/yasca/
RIPS looks like it's a lot more well used than any of those others, but it might be worth trying them all, just to see.
Hope that helps