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 report issued on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $14.00 price target on the stock.

Several other equities research analysts also recently issued reports on SKYE. Oppenheimer began coverage on shares of Skye Bioscience in a research note on Friday, April 12th. They issued an outperform rating and a $25.00 price objective on the stock. Piper Sandler restated an overweight rating and issued a $20.00 price objective (up previously from $12.00) on shares of Skye Bioscience in a research note on Thursday, March 14th.

Skye Bioscience Price Performance

NASDAQ:SKYE opened at $7.46 on Monday. The company’s 50 day moving average is $9.48 and its 200-day moving average is $11.69. Skye Bioscience has a 12 month low of $1.44 and a 12 month high of $19.41.

Skye Bioscience (NASDAQ:SKYE) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Sell-side analysts forecast that Skye Bioscience will post -0.95 EPS for the current 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.