Cantor Fitzgerald Forecasts Skye Bioscience FY2026 Earnings

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

Other equities research analysts have also issued research reports about the company. William Blair restated an "outperform" rating on shares of Skye Bioscience in a research note on Tuesday, May 20th. Craig Hallum dropped their target price on shares of 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, the company presently has an average rating of "Buy" and a consensus price target of $16.60.

Skye Bioscience Stock Performance

NASDAQ:SKYE traded down $0.12 during mid-day trading on Tuesday, hitting $2.05. 128,600 shares of the company's stock traded hands, compared to its average volume of 367,157. The company has a fifty day moving average of $2.11 and a 200 day moving average of $1.95. Skye Bioscience has a twelve month low of $1.14 and a twelve month high of $11.10. The company has a market capitalization of $63.50 million, a P/E ratio of -2.50 and a beta of 1.69.

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

Hedge Funds Weigh In On Skye Bioscience

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Skye Bioscience in the 1st quarter valued at $37,000. Capital Advisors Wealth Management LLC purchased a new stake in Skye Bioscience in the first quarter valued at $33,000. Squarepoint Ops LLC acquired a new stake in Skye Bioscience during the 4th quarter worth about $38,000. Two Sigma Advisers LP purchased a new position in shares of Skye Bioscience during the 4th quarter valued at about $32,000. Finally, Deutsche Bank AG raised its stake in shares of Skye Bioscience by 365.0% during the 4th quarter. Deutsche Bank AG now owns 40,835 shares of the company's stock valued at $116,000 after buying an additional 32,054 shares during the last quarter. Institutional investors and hedge funds 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.