Cantor Fitzgerald Forecasts Skye Bioscience FY2026 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE - Free Report) - Investment analysts at Cantor Fitzgerald issued their FY2026 earnings per share (EPS) estimates for Skye Bioscience in a research note issued on Monday, June 9th. Cantor Fitzgerald analyst K. Kluska expects that the company will earn ($1.69) per share for the year. The consensus estimate for Skye Bioscience's current full-year earnings is ($1.04) per share.

Several other equities research analysts also recently commented on the company. William Blair reaffirmed an "outperform" rating on shares of Skye Bioscience in a report on Tuesday, May 20th. Craig Hallum dropped their target price on Skye Bioscience from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Skye Bioscience has an average rating of "Buy" and a consensus price target of $16.60.

Skye Bioscience Stock Down 8.4%

Shares of NASDAQ SKYE traded down $0.20 during mid-day trading on Tuesday, hitting $2.17. 282,100 shares of the company traded hands, compared to its average volume of 368,963. Skye Bioscience has a 1 year low of $1.14 and a 1 year high of $11.16. The stock has a market capitalization of $67.22 million, a price-to-earnings ratio of -2.65 and a beta of 1.69. The business has a 50 day moving average of $2.08 and a two-hundred day moving average of $1.96.

Skye Bioscience (NASDAQ:SKYE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03.

Institutional Trading of Skye Bioscience

Several large investors have recently made changes to their positions in SKYE. Baker BROS. Advisors LP boosted its stake in Skye Bioscience by 1.1% during the 4th quarter. Baker BROS. Advisors LP now owns 1,450,638 shares of the company's stock valued at $4,105,000 after purchasing an additional 16,004 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in Skye Bioscience by 48.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,422,741 shares of the company's stock valued at $4,026,000 after purchasing an additional 463,644 shares during the period. Braidwell LP bought a new stake in shares of Skye Bioscience in the 4th quarter worth approximately $2,337,000. Geode Capital Management LLC lifted its position in shares of Skye Bioscience by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 405,694 shares of the company's stock worth $1,148,000 after acquiring an additional 19,901 shares during the period. Finally, Bridgeway Capital Management LLC lifted its position in shares of Skye Bioscience by 26.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 72,000 shares of the company's stock worth $204,000 after acquiring an additional 15,000 shares during the period. Institutional investors own 21.09% of the company's stock.

Skye Bioscience Company Profile

Skye Bioscience, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100 used in the treatment of glaucoma and ocular hypertension. It is also developing SBI-200 to treat and manage various eye diseases, including uveitis, dry eye syndrome, macular degeneration and diabetic retinopathy.