Cantor Fitzgerald Forecasts Skye Bioscience FY2026 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE - Free Report) - Research 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 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.

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

Skye Bioscience Stock Down 5.5%

NASDAQ SKYE traded down $0.12 during trading hours on Tuesday, reaching $2.05. The company's stock had a trading volume of 128,600 shares, compared to its average volume of 367,997. The firm's 50-day moving average price is $2.11 and its 200-day moving average price is $1.94. Skye Bioscience has a 1 year low of $1.14 and a 1 year high of $11.10. The company has a market capitalization of $63.50 million, a price-to-earnings ratio of -2.50 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03.

Institutional Investors Weigh In On Skye Bioscience

A number of hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP raised its stake in Skye Bioscience by 1.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,450,638 shares of the company's stock valued at $4,105,000 after buying an additional 16,004 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Skye Bioscience by 48.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,422,741 shares of the company's stock worth $4,026,000 after acquiring an additional 463,644 shares during the period. Braidwell LP acquired a new stake in Skye Bioscience during the fourth quarter worth about $2,337,000. Geode Capital Management LLC grew its holdings in Skye Bioscience by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 405,694 shares of the company's stock valued at $1,148,000 after purchasing an additional 19,901 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in Skye Bioscience by 26.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 72,000 shares of the company's stock valued at $204,000 after purchasing an additional 15,000 shares during the period. 21.09% of the stock is currently owned by hedge funds and other institutional investors.

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.