Piper Jaffray analyst Edward Tenthoff downgraded Sarepta Therapeutics to Underweight saying he still sees "little chance" for eteplirsen approval by the May 26 FDA action date. Yesterday's advisory panel returned negative votes relating to the potential of both accelerated and full approval for the Duchenne muscular dystrophy drug, Tenthoff tells investors in a research note. Sarepta ended 2015 with $204M or $4.47 per share in cash, but is burning it at a high rate, the analyst contends. He cut his price target for the shares to $6 from $15. The stock was halted yesterday and closed Friday at $14.95.