Skye Bioscience (SKYE) vs. Its Competitors Financial Comparison

Skye Bioscience (NASDAQ:SKYE) is one of 999 publicly-traded companies in the “Pharmaceutical preparations” industry, but how does it contrast to its peers? We will compare Skye Bioscience to similar companies based on the strength of its earnings, valuation, institutional ownership, risk, analyst recommendations, profitability and dividends.

Risk & Volatility

Skye Bioscience has a beta of 1.69, suggesting that its stock price is 69% more volatile than the S&P 500. Comparatively, Skye Bioscience’s peers have a beta of 0.84, suggesting that their average stock price is 16% less volatile than the S&P 500.

Insider and Institutional Ownership

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

Analyst Ratings

This is a breakdown of recent recommendations for Skye Bioscience and its peers, 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	6283	18542	44327	909	2.57

Skye Bioscience presently has a consensus price target of $22.50, suggesting a potential upside of 38.46%. As a group, “Pharmaceutical preparations” companies have a potential upside of 80.74%. Given Skye Bioscience’s peers higher possible upside, analysts plainly believe Skye Bioscience has less favorable growth aspects than its peers.

Profitability

This table compares Skye Bioscience and its peers’ 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	-2,591.74%	-222.91%	-28.55%

Valuation & Earnings

This table compares Skye Bioscience and its peers gross revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
Skye Bioscience	N/A	-$37.65 million	-1.52
Skye Bioscience Competitors	$1.68 billion	$148.35 million	-4.55

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

Summary

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

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. 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.