JMP Securities analyst Liisa Bayko lowered the firm's price target on Sarepta to $217 from $280 but keeps an Outperform rating on the shares. The analyst points to a miss in the company's Q4 bottom line, calling it concerning given its strong balance sheet and progress toward supply to enable Study 301 start in the July time frame. Bayko still believes that the company's 2020 revenue guidance is attainable, and she looks ahead to the start of Study 301 of micro-dystrophin gene therapy SRP-9001 in Q3 and the functional data from the ongoing Study 102 in Q1 of next year.