Contrasting Skye Bioscience (SKYE) & Its Peers

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

Volatility and Risk

Skye Bioscience has a beta of 1.74, meaning that its stock price is 74% more volatile than the S&P 500. Comparatively, Skye Bioscience’s competitors have a beta of 0.89, meaning that their average stock price is 11% less volatile than the S&P 500.

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	-2,459.06%	-249.83%	-30.60%

Analyst Recommendations

This is a breakdown of recent recommendations for Skye Bioscience and its competitors, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Skye Bioscience	0	0	2	0	3.00
Skye Bioscience Competitors	6390	18724	44605	917	2.57

Skye Bioscience presently has a consensus price target of $22.50, suggesting a potential upside of 74.15%. As a group, “Pharmaceutical preparations” companies have a potential upside of 83.23%. Given Skye Bioscience’s competitors higher probable upside, analysts clearly believe Skye Bioscience has less favorable growth aspects than its competitors.

Valuation and Earnings

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

	Gross Revenue	Net Income	Price/Earnings Ratio
Skye Bioscience	N/A	-$37.65 million	-1.21
Skye Bioscience Competitors	$2.13 billion	$146.57 million	-1.65

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.

Insider & Institutional Ownership

21.1% of Skye Bioscience shares are owned by institutional investors. Comparatively, 44.6% 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 large money managers, hedge funds and endowments believe a stock will outperform the market over the long term.

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.