FY2025 EPS Estimate for Skye Bioscience Increased by Analyst

Skye Bioscience, Inc. (NASDAQ:SKYE) – Investment analysts at HC Wainwright upped their FY2025 EPS estimates for Skye Bioscience in a note issued to investors on Wednesday, November 12th. HC Wainwright analyst A. Ghosh now expects that the company will earn ($1.37) per share for the year, up from their prior forecast of ($1.61). HC Wainwright currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share. HC Wainwright also issued estimates for Skye Bioscience’s Q4 2025 earnings at ($0.31) EPS, Q1 2026 earnings at ($0.36) EPS, Q2 2026 earnings at ($0.36) EPS, Q3 2026 earnings at ($0.35) EPS, FY2026 earnings at ($1.43) EPS, FY2027 earnings at ($1.39) EPS, FY2028 earnings at ($1.58) EPS and FY2029 earnings at ($1.93) EPS.

SKYE has been the topic of a number of other research reports. Cantor Fitzgerald downgraded Skye Bioscience from an “overweight” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Monday, October 6th. Evercore ISI upgraded Skye Bioscience to a “strong-buy” rating in a report on Friday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Skye Bioscience in a report on Wednesday, October 8th. Finally, Craig Hallum cut shares of Skye Bioscience from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Skye Bioscience has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Skye Bioscience Price Performance

Shares of Skye Bioscience stock opened at $1.37 on Friday. The stock has a market cap of $43.92 million, a P/E ratio of -1.07 and a beta of 2.28. The stock’s 50 day simple moving average is $2.58 and its 200-day simple moving average is $2.92. Skye Bioscience has a 1-year low of $1.14 and a 1-year high of $5.75.

Skye Bioscience (NASDAQ:SKYE) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.01.

Hedge Funds Weigh In On Skye Bioscience

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKYE. Nuveen LLC purchased a new position in shares of Skye Bioscience in the 1st quarter valued at $37,000. Capital Advisors Inc. OK acquired a new position in Skye Bioscience in the third quarter valued at $39,000. Y Intercept Hong Kong Ltd acquired a new position in Skye Bioscience in the second quarter valued at $42,000. Millington Financial Advisors LLC purchased a new position in shares of Skye Bioscience during the second quarter worth about $44,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Skye Bioscience by 121.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,927 shares of the company’s stock worth $46,000 after purchasing an additional 5,989 shares in the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Skye Bioscience

In related news, major shareholder 5Am Partners Vii, Llc sold 170,449 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $3.42, for a total transaction of $582,935.58. Following the completion of the transaction, the insider directly owned 57,493 shares of the company’s stock, valued at $196,626.06. The trade was a 74.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew J. Schwab sold 170,449 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $3.42, for a total value of $582,935.58. Following the completion of the sale, the director directly owned 57,493 shares in the company, valued at $196,626.06. This represents a 74.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 462,810 shares of company stock worth $1,601,097. Insiders own 4.50% 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.