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 shares of Skye Bioscience in a note issued to investors 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.

SKYE has been the topic of several other research reports. William Blair restated an "outperform" rating on shares of Skye Bioscience in a research report on Tuesday, May 20th. Craig Hallum reduced their target price on Skye Bioscience from $18.00 to $14.00 and set a "buy" rating for the company in a report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Skye Bioscience has an average rating of "Buy" and an average target price of $16.60.

Skye Bioscience Price Performance

Skye Bioscience stock remained flat at $2.17 during midday trading on Tuesday. 116,804 shares of the company's stock traded hands, compared to its average volume of 367,958. Skye Bioscience has a 12-month low of $1.14 and a 12-month high of $11.16. The business's 50 day simple moving average is $2.10 and its 200-day simple moving average is $1.95. The firm has a market capitalization of $67.22 million, a P/E ratio of -2.65 and a beta of 1.69.

Skye Bioscience (NASDAQ:SKYE - Get Free Report) last announced its quarterly earnings data 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in Skye Bioscience during the 4th quarter valued at about $29,000. Wells Fargo & Company MN grew its holdings in shares of Skye Bioscience by 49.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,199 shares of the company's stock valued at $32,000 after acquiring an additional 3,684 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Skye Bioscience in the fourth quarter worth $32,000. Capital Advisors Wealth Management LLC purchased a new stake in shares of Skye Bioscience during the first quarter worth $33,000. Finally, Nuveen LLC acquired a new stake in Skye Bioscience during the first quarter valued at $37,000. 21.09% of the stock is owned by institutional investors and hedge funds.

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.