Skye Bioscience (SKYE) to Release Quarterly Earnings on Thursday

Skye Bioscience (NASDAQ:SKYE - Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.25) per share for the quarter. Parties that wish to listen to the company's conference call can do so using this link.

Skye Bioscience (NASDAQ:SKYE - Get Free Report) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 Price Performance

Shares of NASDAQ:SKYE traded up $0.32 during trading on Friday, reaching $5.56. 93,900 shares of the company's stock traded hands, compared to its average volume of 266,453. The company has a 50 day moving average of $4.40 and a 200-day moving average of $5.02. Skye Bioscience has a 12 month low of $1.44 and a 12 month high of $19.41.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SKYE shares. Craig Hallum started coverage on Skye Bioscience in a research report on Tuesday, July 9th. They set a "buy" rating and a $18.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $20.00 target price on shares of Skye Bioscience in a research report on Friday, September 20th. JMP Securities started coverage on shares of Skye Bioscience in a report on Tuesday, September 10th. They set an "outperform" rating and a $15.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $14.00 price objective on shares of Skye Bioscience in a report on Friday, September 20th. Finally, Scotiabank assumed coverage on shares of Skye Bioscience in a research report on Monday, September 30th. They issued a "sector outperform" rating and a $20.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $18.67.

Insider Activity at Skye Bioscience

In related news, Director Andrew J. Schwab sold 13,837 shares of the stock in a transaction dated Friday, September 13th. The shares were 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 $401,638.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Andrew J. Schwab sold 13,837 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $6.06, for a total transaction of $83,852.22. Following the sale, the director now owns 66,277 shares of the company's stock, valued at $401,638.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew J. Schwab sold 252,500 shares of the stock in a transaction on 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 transaction, the director now directly owns 66,356 shares of the company's stock, valued at approximately $437,949.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% 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.