Skye Bioscience (SKYE) to Release Quarterly Earnings on Thursday

Skye Bioscience (NASDAQ:SKYE) will 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 are interested in participating in the company’s conference call can do so using this link.

Skye Bioscience (NASDAQ:SKYE) last announced its earnings results on Friday, August 9th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate 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 Stock Performance

Shares of SKYE opened at $5.35 on Wednesday. Skye Bioscience has a 12 month low of $1.44 and a 12 month high of $19.41. The firm has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $5.02.

Analysts Set New Price Targets

SKYE has been the subject of several recent research reports. Scotiabank initiated coverage on shares of Skye Bioscience in a report on Monday, September 30th. They set a “sector outperform” rating and a $20.00 target price for the company. JMP Securities initiated coverage on shares of Skye Bioscience in a report on Tuesday, September 10th. They set an “outperform” rating and a $15.00 target price for the company. Craig Hallum assumed coverage on shares of Skye Bioscience in a report on Tuesday, July 9th. They set a “buy” rating and a $18.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target on shares of Skye Bioscience in a research note on Friday, September 20th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $20.00 price target on shares of Skye Bioscience in a research note on Friday, September 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Skye Bioscience currently has an average rating of “Buy” and an average price target of $18.67.

Insider Buying and Selling at Skye Bioscience

In other Skye Bioscience news, Director Andrew J. Schwab sold 13,837 shares of the stock in a transaction on 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 sale, the director now owns 66,277 shares in the company, valued at $401,638.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Andrew J. Schwab sold 13,837 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.06, for a total transaction of $83,852.22. Following the completion of the sale, the director now owns 66,277 shares in the company, valued at approximately $401,638.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew J. Schwab sold 252,500 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $6.60, for a total transaction of $1,666,500.00. Following the sale, the director now owns 66,356 shares of the company’s stock, valued at approximately $437,949.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.