Skye Bioscience (SKYE) Scheduled to Post Earnings on Thursday

Skye Bioscience (NASDAQ:SKYE) is set to release its earnings data after the market closes on Thursday, November 7th. Analysts expect Skye Bioscience to post earnings of ($0.25) per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Skye Bioscience (NASDAQ:SKYE) last released its quarterly earnings data on Friday, August 9th. The company reported ($0.20) earnings per share for the quarter, meeting 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 Trading Down 1.7 %

NASDAQ:SKYE opened at $5.35 on Wednesday. The company has a fifty day moving average of $4.53 and a 200-day moving average of $5.02. Skye Bioscience has a twelve month low of $1.44 and a twelve month high of $19.41.

Insider Buying and Selling

In other Skye Bioscience news, Director Andrew J. Schwab sold 252,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.60, for a total transaction of $1,666,500.00. Following the sale, the director now directly owns 66,356 shares of the company’s stock, valued at $437,949.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Skye Bioscience news, Director Andrew J. Schwab sold 252,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $6.60, for a total transaction of $1,666,500.00. Following the sale, the director now directly owns 66,356 shares of the company’s stock, valued at $437,949.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew J. Schwab sold 13,837 shares of the company’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 sale, the director now directly owns 66,277 shares in the company, valued at approximately $401,638.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on SKYE shares. Scotiabank started coverage on shares of Skye Bioscience in a research note on Monday, September 30th. They set a “sector outperform” rating and a $20.00 price target for the company. JMP Securities started coverage on shares of Skye Bioscience in a research note on Tuesday, September 10th. They set an “outperform” rating and a $15.00 price target for the company. Craig Hallum started coverage on shares of Skye Bioscience in a research note on Tuesday, July 9th. They set a “buy” rating and a $18.00 price target for the company. Piper Sandler restated an “overweight” rating and set a $20.00 price target on shares of Skye Bioscience in a research note on Friday, September 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 target price on shares of Skye Bioscience in a research note on Friday, September 20th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.67.

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.