Should I buy or sell Skye Bioscience stock right now?

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Skye Bioscience in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" SKYE shares. View SKYE analyst ratings or view top-rated stocks .

What is Skye Bioscience's stock price target for 2024?

2 analysts have issued 12 month target prices for Skye Bioscience's shares. Their SKYE share price targets range from $20.00 to $25.00. On average, they expect the company's stock price to reach $22.50 in the next twelve months. This suggests a possible upside of 33.2% from the stock's current price. View analysts price targets for SKYE or view top-rated stocks among Wall Street analysts .

How have SKYE shares performed in 2024?

Skye Bioscience's stock was trading at $2.72 at the start of the year. Since then, SKYE stock has increased by 521.0% and is now trading at $16.89. View the best growth stocks for 2024 here .

Are investors shorting Skye Bioscience?

Skye Bioscience saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 34,400 shares, an increase of 631.9% from the February 29th total of 4,700 shares. Based on an average trading volume of 129,100 shares, the days-to-cover ratio is currently 0.3 days. View Skye Bioscience's Short Interest .

When is Skye Bioscience's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024. View our SKYE earnings forecast .

How do I buy shares of Skye Bioscience?

Shares of SKYE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:SKYE

Skye Bioscience (SKYE) Stock Price, News & Analysis

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$16.95

-0.41 (-2.36%)

(As of 02:33 PM ET)

Compare

Today's Range: $16.26
▼
$17.65
50-Day Range: $5.78
▼
$18.00
52-Week Range: $1.44
▼
$19.41

Volume: 54,234 shs
Average Volume: 28,982 shs
Market Capitalization: $209.33 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $22.50

Get Skye Bioscience alerts:

Skye Bioscience MarketRank™ Stock Analysis

Analyst Rating: Buy
3.00 Rating Score
Upside/Downside: 33.2% Upside
$22.50 Price Target
Short Interest: Healthy
0.29% of Shares Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.38
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Decreasing
From ($0.79) to ($0.88) Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.10 out of 5 stars

Medical Sector

783rd out of 914 stocks

Pharmaceutical Preparations Industry

351st out of 415 stocks

3.5

Analyst's Opinion

Consensus Rating
Skye Bioscience has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.
Amount of Analyst Coverage
Skye Bioscience has only been the subject of 2 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
0.29% of the outstanding shares of Skye Bioscience have been sold short.
Short Interest Ratio / Days to Cover
Skye Bioscience has a short interest ratio ("days to cover") of 1.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Skye Bioscience has recently increased by 5.23%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Skye Bioscience does not currently pay a dividend.
Dividend Growth
Skye Bioscience does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for SKYE.

1.9

News and Social Media Coverage

News Sentiment
Skye Bioscience has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.49 average news sentiment score of Medical companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Skye Bioscience this week, compared to 0 articles on an average week.
Search Interest
Only 3 people have searched for SKYE on MarketBeat in the last 30 days. This is a decrease of -77% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Skye Bioscience insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 0.73% of the stock of Skye Bioscience is held by insiders.
Percentage Held by Institutions
Only 21.09% of the stock of Skye Bioscience is held by institutions.

0.0

Earnings and Valuation

Earnings Growth
Earnings for Skye Bioscience are expected to decrease in the coming year, from ($0.79) to ($0.88) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Skye Bioscience is -1.58, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Skye Bioscience is -1.58, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

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About Skye Bioscience Stock (NASDAQ:SKYE)

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. It has license agreement with university of Mississippi. The company was formerly known as Emerald Bioscience, Inc. and changed its name to Skye Bioscience, Inc. in January 2021. The company is headquartered in San Diego, California.

SKYE Stock Price History

30 days | 90 days | 365 days | Advanced Chart

SKYE Stock News Headlines

April 17, 2024 | americanbankingnews.com

Analyzing Skye Bioscience (SKYE) & Its Peers

April 16, 2024 | investorplace.com

These 3 Biotech Stocks Are Up 269% in 2024. Is There More to Come?

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April 15, 2024 | americanbankingnews.com

Skye Bioscience (NASDAQ:SKYE) Now Covered by Oppenheimer

April 15, 2024 | americanbankingnews.com

Skye Bioscience (NASDAQ:SKYE) Earns Outperform Rating from Analysts at Oppenheimer

April 10, 2024 | finanznachrichten.de

Skye Bioscience, Inc.: Skye Bioscience Uplists to The Nasdaq Global Market

April 10, 2024 | globenewswire.com

Skye Bioscience Uplists to The Nasdaq Global Market

March 15, 2024 | msn.com

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April 18, 2024 | The Freeport Society (Ad)

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March 14, 2024 | markets.businessinsider.com

Analysts’ Opinions Are Mixed on These Healthcare Stocks: Guardant Health (GH), Cue Health (HLTH) and Skye Bioscience (OtherSKYE)

March 13, 2024 | finanznachrichten.de

Skye Bioscience, Inc.: Skye Bioscience Announces $40 Million Private Placement Equity Financing

March 8, 2024 | investorplace.com

All Three of Our Analysts Agree

March 4, 2024 | globenewswire.com

Skye Bioscience Appoints Dr. Annalisa Jenkins to Board of Directors

February 26, 2024 | globenewswire.com

Skye Bioscience Completes Enrollment of Phase 2a Clinical Trial of SBI-100 Ophthalmic Emulsion in Glaucoma and Ocular Hypertension

February 7, 2024 | finance.yahoo.com

Skye Bioscience to Present at Oppenheimer Investor Conference

February 6, 2024 | markets.businessinsider.com

Buy Rating Affirmed for Skye Bioscience on Strong Drug Pipeline and Financial Health

January 30, 2024 | msn.com

Skye Bioscience Announces Private Placement Details

January 30, 2024 | msn.com

Skye Bioscience Strikes Deal for $50M Capital Boost

January 29, 2024 | msn.com

Skye Bioscience announces $50M private placement

January 29, 2024 | finance.yahoo.com

Skye Bioscience Announces $50.25 Million Private Placement Equity Financing

December 11, 2023 | msn.com

Global Cannabis Odyssey: Ontario Expansion, Australian Exports And Innovations In Africa

December 11, 2023 | finance.yahoo.com

Skye Announces Clinical Development Plan in Obesity for Differentiated Peripheral CB1 Inhibitor, Nimacimab

December 5, 2023 | finance.yahoo.com

Skye Bioscience and Tautomer Bioscience Enter Exclusive License for SBI-100 for Development and Sale of Products for Chronic Pain and Other Indications in South Africa and Rest of Africa

November 21, 2023 | finance.yahoo.com

Skye Bioscience to Present at BTIG Ophthalmology Day and OIS XIII Ophthalmology Innovation Summit

November 20, 2023 | thetimes.co.uk

Skye McAlpine’s easy one-tray dinner recipes

November 10, 2023 | mirror.co.uk

Matthew Perry's ex co-star Ione Skye shares heartbreaking last texts with Friends actor

November 8, 2023 | morningstar.com

Skye Bioscience Inc Ordinary Shares SKYE

See More Headlines

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Company Calendar

Today: 4/18/2024
Next Earnings (Estimated): 5/09/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Medical
Industry: Pharmaceutical preparations
Sub-Industry: N/A
Current Symbol: NASDAQ:SKYE
CUSIP: N/A
CIK: 1516551
Web: skyebioscience.com
Phone: 858-410-0266
Fax: N/A
Employees: 11
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $22.50
High Stock Price Target: $25.00
Low Stock Price Target: $20.00
Potential Upside/Downside: +29.6%
Consensus Rating: Buy
Rating Score (0-4): 3.00
Research Coverage: 2 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($10.67)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-37,650,000.00
Net Margins: N/A
Pretax Margin: N/A
Return on Equity: N/A
Return on Assets: -438.15%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 0.84
Quick Ratio: 0.84

Sales & Book Value

Annual Sales: N/A
Price / Sales: N/A
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: ($0.17) per share
Price / Book: -102.12

Miscellaneous

Outstanding Shares: 12,350,000
Free Float: 12,259,000
Market Cap: $214.40 million
Optionable: N/A
Beta: 1.69

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Key Executives

Mr. Punit S. Dhillon B.A. (Age 44)
Executive Chairman, President, CEO & Secretary
Comp: $720k
Dr. Christopher G. Twitty Ph.D. (Age 51)
Chief Scientific Officer
Mr. Tu Diep M.Sc. (Age 43)
Chief Development Officer

Key Competitors

View All Competitors

SKYE Stock Analysis - Frequently Asked Questions

Should I buy or sell Skye Bioscience stock right now?: 2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Skye Bioscience in the last year. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" SKYE shares.
View SKYE analyst ratings or view top-rated stocks.
What is Skye Bioscience's stock price target for 2024?: 2 analysts have issued 12 month target prices for Skye Bioscience's shares. Their SKYE share price targets range from $20.00 to $25.00. On average, they expect the company's stock price to reach $22.50 in the next twelve months. This suggests a possible upside of 33.2% from the stock's current price.
View analysts price targets for SKYE or view top-rated stocks among Wall Street analysts.
How have SKYE shares performed in 2024?: Skye Bioscience's stock was trading at $2.72 at the start of the year. Since then, SKYE stock has increased by 521.0% and is now trading at $16.89.
View the best growth stocks for 2024 here.
Are investors shorting Skye Bioscience?: Skye Bioscience saw a increase in short interest during the month of March. As of March 15th, there was short interest totaling 34,400 shares, an increase of 631.9% from the February 29th total of 4,700 shares. Based on an average trading volume of 129,100 shares, the days-to-cover ratio is currently 0.3 days.
View Skye Bioscience's Short Interest.

When is Skye Bioscience's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
View our SKYE earnings forecast.
How do I buy shares of Skye Bioscience?: Shares of SKYE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:SKYE) was last updated on 4/18/2024 by MarketBeat.com Staff

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