Comparing Skye Bioscience (SKYE) and Its Rivals

Skye Bioscience (NASDAQ:SKYE) is one of 1,000 publicly-traded companies in the “Pharmaceutical preparations” industry, but how does it weigh in compared to its competitors? We will compare Skye Bioscience to similar companies based on the strength of its profitability, analyst recommendations, risk, dividends, valuation, institutional ownership and earnings.

Profitability

This table compares Skye Bioscience and its competitors’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Skye Bioscience	N/A	N/A	-438.15%
Skye Bioscience Competitors	-2,458.79%	-294.93%	-30.61%

Volatility & Risk

Skye Bioscience has a beta of 1.74, suggesting that its share price is 74% more volatile than the S&P 500. Comparatively, Skye Bioscience’s competitors have a beta of 1.12, suggesting that their average share price is 12% more volatile than the S&P 500.

Analyst Recommendations

This is a breakdown of recent ratings and target prices for Skye Bioscience and its competitors, as reported by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Skye Bioscience	0	0	2	0	3.00
Skye Bioscience Competitors	6384	18714	44577	917	2.57

Skye Bioscience presently has a consensus target price of $22.50, indicating a potential upside of 72.81%. As a group, “Pharmaceutical preparations” companies have a potential upside of 84.68%. Given Skye Bioscience’s competitors higher probable upside, analysts plainly believe Skye Bioscience has less favorable growth aspects than its competitors.

Institutional and Insider Ownership

21.1% of Skye Bioscience shares are held by institutional investors. Comparatively, 44.5% of shares of all “Pharmaceutical preparations” companies are held by institutional investors. 0.7% of Skye Bioscience shares are held by company insiders. Comparatively, 14.2% of shares of all “Pharmaceutical preparations” companies are held by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock is poised for long-term growth.

Earnings & Valuation

This table compares Skye Bioscience and its competitors revenue, earnings per share and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
Skye Bioscience	N/A	-$37.65 million	-1.22
Skye Bioscience Competitors	$1.68 billion	$147.25 million	-1.33

Skye Bioscience’s competitors have higher revenue and earnings than Skye Bioscience. Skye Bioscience is trading at a higher price-to-earnings ratio than its competitors, indicating that it is currently more expensive than other companies in its industry.

Summary

Skye Bioscience competitors beat Skye Bioscience on 7 of the 13 factors compared.

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. 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.