Skye Bioscience (NASDAQ:SKYE - Get Free Report) issued its earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03, Zacks reports.
Skye Bioscience Stock Performance
Shares of Skye Bioscience stock traded down $0.07 on Thursday, reaching $1.84. 20,274 shares of the company's stock were exchanged, compared to its average volume of 519,545. Skye Bioscience has a 52 week low of $1.14 and a 52 week high of $13.44. The firm's 50-day moving average is $1.77 and its two-hundred day moving average is $2.19. The company has a market capitalization of $56.84 million, a P/E ratio of -2.24 and a beta of 1.74.
Wall Street Analyst Weigh In
SKYE has been the subject of a number of research analyst reports. Craig Hallum reduced their price objective on shares of Skye Bioscience from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, March 21st. William Blair reissued an "outperform" rating on shares of Skye Bioscience in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Skye Bioscience presently has a consensus rating of "Buy" and a consensus price target of $16.60.
Check Out Our Latest Report on SKYE
About Skye Bioscience
(
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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.
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