Brokers Issue Forecasts for Skye Bioscience FY2026 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE) – Analysts at Cantor Fitzgerald issued their FY2026 EPS estimates for Skye Bioscience in a research report issued to clients and 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.

Several other analysts have also recently weighed in on the company. Craig Hallum dropped their price target on Skye Bioscience from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, March 21st. William Blair reissued an “outperform” rating on shares of Skye Bioscience in a report on Tuesday, May 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $16.60.

Skye Bioscience Trading Down 8.4%

Skye Bioscience stock opened at $2.17 on Tuesday. The company has a market capitalization of $67.22 million, a price-to-earnings ratio of -2.65 and a beta of 1.69. Skye Bioscience has a 12 month low of $1.14 and a 12 month high of $11.16. The stock’s 50 day moving average is $2.08 and its 200-day moving average is $1.96.

Skye Bioscience (NASDAQ:SKYE) last announced its earnings results on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03.

Institutional Investors Weigh In On Skye Bioscience

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baker BROS. Advisors LP boosted its stake in shares of 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 period. Schonfeld Strategic Advisors LLC raised its holdings in Skye Bioscience by 48.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,422,741 shares of the company’s stock valued at $4,026,000 after acquiring an additional 463,644 shares in the last quarter. Braidwell LP bought a new stake in shares of Skye Bioscience during the 4th quarter valued at $2,337,000. Geode Capital Management LLC lifted its position in shares of Skye Bioscience by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 405,694 shares of the company’s stock valued at $1,148,000 after acquiring an additional 19,901 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Skye Bioscience by 26.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 72,000 shares of the company’s stock worth $204,000 after purchasing an additional 15,000 shares in the last quarter. 21.09% of the stock is currently 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.