William Blair Forecasts Skye Bioscience Q2 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE - Free Report) - Stock analysts at William Blair issued their Q2 2026 EPS estimates for shares of Skye Bioscience in a note issued to investors on Tuesday, April 15th. William Blair analyst A. Hsieh expects that the company will earn ($0.33) per share for the quarter. William Blair currently has a "Outperform" rating on the stock. The consensus estimate for Skye Bioscience's current full-year earnings is ($1.04) per share.

Separately, Craig Hallum dropped their price objective on shares of Skye Bioscience from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Skye Bioscience has a consensus rating of "Buy" and a consensus target price of $16.60.

Skye Bioscience Stock Performance

NASDAQ:SKYE traded up $0.09 during mid-day trading on Wednesday, hitting $1.52. The stock had a trading volume of 343,943 shares, compared to its average volume of 344,190. Skye Bioscience has a twelve month low of $1.14 and a twelve month high of $16.01. The stock has a market cap of $47.08 million, a price-to-earnings ratio of -2.11 and a beta of 1.88. The company's 50 day simple moving average is $1.64 and its 200 day simple moving average is $2.42.

Skye Bioscience (NASDAQ:SKYE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.30) by $0.06. During the same period in the prior year, the firm posted ($0.36) EPS.

Institutional Investors Weigh In On Skye Bioscience

A number of hedge funds have recently added to or reduced their stakes in the business. Braidwell LP acquired a new position in Skye Bioscience during the 4th quarter worth approximately $2,337,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Skye Bioscience by 48.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,422,741 shares of the company's stock valued at $4,026,000 after acquiring an additional 463,644 shares in the last quarter. Deutsche Bank AG raised its position in shares of Skye Bioscience by 365.0% during the fourth quarter. Deutsche Bank AG now owns 40,835 shares of the company's stock worth $116,000 after purchasing an additional 32,054 shares during the period. Jane Street Group LLC lifted its holdings in shares of Skye Bioscience by 195.5% in the 4th quarter. Jane Street Group LLC now owns 36,057 shares of the company's stock worth $102,000 after purchasing an additional 23,857 shares in the last quarter. Finally, State Street Corp increased its stake in Skye Bioscience by 7.0% during the 3rd quarter. State Street Corp now owns 354,205 shares of the company's stock valued at $1,385,000 after purchasing an additional 23,201 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors.

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.