Cantor Fitzgerald Reaffirms Overweight Rating for Skye Bioscience (NASDAQ:SKYE)

Cantor Fitzgerald reiterated their overweight rating on shares of Skye Bioscience (NASDAQ:SKYE) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $14.00 price objective on the stock.

A number of other analysts also recently commented on the stock. Oppenheimer assumed coverage on shares of Skye Bioscience in a report on Friday, April 12th. They set an outperform rating and a $25.00 price objective on the stock. Piper Sandler reissued an overweight rating and set a $20.00 price objective (up previously from $12.00) on shares of Skye Bioscience in a report on Thursday, March 14th.

Skye Bioscience Stock Down 1.3 %

Shares of NASDAQ:SKYE opened at $7.46 on Monday. The firm’s 50-day simple moving average is $9.48 and its 200-day simple moving average is $11.69. Skye Bioscience has a fifty-two week low of $1.44 and a fifty-two week high of $19.41.

Skye Bioscience (NASDAQ:SKYE) last issued its earnings results on Friday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Equities research analysts expect that Skye Bioscience will post -0.95 EPS for the current fiscal year.

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.