Skye Bioscience (SKYE) to Release Quarterly Earnings on Thursday

Skye Bioscience (NASDAQ:SKYE) is scheduled to be announcing 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 registering for 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

NASDAQ:SKYE opened at $5.35 on Wednesday. The firm’s 50-day moving average is $4.53 and its 200-day moving average is $5.02. Skye Bioscience has a 52-week low of $1.44 and a 52-week high of $19.41.

Insider Activity at Skye Bioscience

In related news, Director Andrew J. Schwab sold 13,837 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 66,277 shares in the company, valued at $401,638.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Skye Bioscience news, Director Andrew J. Schwab sold 13,837 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $401,638.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew J. Schwab sold 252,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 66,356 shares of the company’s stock, valued at $437,949.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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