William Blair Comments on Skye Bioscience Q2 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE) – Research analysts at William Blair issued their Q2 2026 EPS estimates for Skye Bioscience in a research note issued to investors on Tuesday, April 15th. William Blair analyst A. Hsieh anticipates that the company will post earnings of ($0.33) per share for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share.

Skye Bioscience (NASDAQ:SKYE) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. During the same quarter last year, the business earned ($0.36) earnings per share.

Separately, Craig Hallum dropped their price objective on Skye Bioscience from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $16.60.

Skye Bioscience Price Performance

SKYE opened at $1.44 on Wednesday. The business has a 50 day moving average price of $1.68 and a two-hundred day moving average price of $2.45. The company has a market capitalization of $44.45 million, a price-to-earnings ratio of -1.99 and a beta of 1.88. Skye Bioscience has a 1-year low of $1.14 and a 1-year high of $17.65.

Institutional Investors Weigh In On Skye Bioscience

A number of institutional investors and hedge funds have recently modified their holdings of SKYE. Virtu Financial LLC acquired a new position in shares of Skye Bioscience in the 4th quarter worth $29,000. Wells Fargo & Company MN boosted its position in shares of Skye Bioscience by 49.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,199 shares of the company’s stock valued at $32,000 after purchasing an additional 3,684 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Skye Bioscience in the 4th quarter valued at $32,000. Jane Street Group LLC purchased a new position in Skye Bioscience in the 3rd quarter worth about $48,000. Finally, Squarepoint Ops LLC acquired a new stake in Skye Bioscience during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 21.09% of the company’s stock.

About Skye Bioscience

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.