Analyzing Skye Bioscience (SKYE) and Its Competitors

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

Institutional & Insider Ownership

21.1% of Skye Bioscience shares are owned by institutional investors. Comparatively, 44.7% 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 hedge funds, large money managers and endowments believe a stock is poised for long-term growth.

Analyst Ratings

This is a summary of recent ratings for Skye Bioscience and its rivals, 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	6394	18736	44646	917	2.57

Skye Bioscience presently has a consensus target price of $22.50, indicating a potential upside of 76.75%. As a group, “Pharmaceutical preparations” companies have a potential upside of 82.79%. Given Skye Bioscience’s rivals higher possible upside, analysts clearly believe Skye Bioscience has less favorable growth aspects than its rivals.

Valuation and Earnings

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

	Gross Revenue	Net Income	Price/Earnings Ratio
Skye Bioscience	N/A	-$37.65 million	-1.19
Skye Bioscience Competitors	$1.67 billion	$146.43 million	-1.64

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

Profitability

This table compares Skye Bioscience and its rivals’ 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%

Volatility & Risk

Skye Bioscience has a beta of 1.74, meaning that its share price is 74% more volatile than the S&P 500. Comparatively, Skye Bioscience’s rivals have a beta of 1.09, meaning that their average share price is 9% more volatile than the S&P 500.

Summary

Skye Bioscience rivals 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.