Skye Bioscience (NASDAQ:SKYE - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06, Zacks reports. During the same quarter in the prior year, the firm posted ($0.36) earnings per share.
Skye Bioscience Price Performance
NASDAQ:SKYE traded up $0.10 during trading hours on Monday, reaching $2.35. The company's stock had a trading volume of 205,898 shares, compared to its average volume of 213,597. The company has a market capitalization of $71.29 million, a price-to-earnings ratio of -3.26 and a beta of 1.71. The firm's 50-day moving average price is $2.66. Skye Bioscience has a 1 year low of $1.83 and a 1 year high of $17.65.
Wall Street Analysts Forecast Growth
SKYE has been the subject of several recent analyst reports. Craig Hallum reduced their target price on Skye Bioscience from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday. William Blair reissued an "outperform" rating on shares of Skye Bioscience in a report on Friday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $18.00.
Check Out Our Latest Report on SKYE
About Skye Bioscience
(
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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.
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