Skye Bioscience (SKYE) Set to Announce Earnings on Thursday

Skye Bioscience (NASDAQ:SKYE) is scheduled to post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Skye Bioscience to post earnings of ($0.25) per share for the quarter.

Skye Bioscience (NASDAQ:SKYE) last issued its earnings results on Friday, August 9th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). On average, analysts expect Skye Bioscience to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Skye Bioscience Stock Up 6.1 %

Shares of NASDAQ:SKYE opened at $5.56 on Friday. The company has a 50-day moving average price of $4.40 and a 200-day moving average price of $5.04. Skye Bioscience has a 12 month low of $1.44 and a 12 month high of $19.41.

Insider Activity at Skye Bioscience

In other Skye Bioscience news, Director Andrew J. Schwab sold 13,837 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $6.06, for a total value of $83,852.22. Following the completion of the transaction, the director now owns 66,277 shares in the company, valued at approximately $401,638.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Skye Bioscience news, Director Andrew J. Schwab sold 252,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.60, for a total value of $1,666,500.00. Following the sale, the director now owns 66,356 shares in the company, valued at approximately $437,949.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew J. Schwab sold 13,837 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $6.06, for a total transaction of $83,852.22. Following the transaction, the director now directly owns 66,277 shares of the company’s stock, valued at $401,638.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective on shares of Skye Bioscience in a report on Friday, September 20th. Craig Hallum assumed coverage on Skye Bioscience in a research note on Tuesday, July 9th. They issued a “buy” rating and a $18.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $14.00 price objective on shares of Skye Bioscience in a research report on Friday, September 20th. JMP Securities assumed coverage on shares of Skye Bioscience in a report on Tuesday, September 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, Scotiabank started coverage on shares of Skye Bioscience in a research note on Monday, September 30th. They set a “sector outperform” rating and a $20.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Skye Bioscience presently has an average rating of “Buy” and a consensus target price of $18.67.

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.