FY2025 EPS Estimates for Skye Bioscience Boosted by Analyst

Skye Bioscience, Inc. (NASDAQ:SKYE) – HC Wainwright raised their FY2025 earnings estimates for Skye Bioscience in a research note issued on Wednesday, November 12th. HC Wainwright analyst A. Ghosh now anticipates that the company will post earnings per share of ($1.37) for the year, up from their prior forecast of ($1.61). HC Wainwright has a “Buy” rating and a $20.00 price target 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.

A number of other equities research analysts have also recently commented on SKYE. Weiss Ratings reissued a “sell (d-)” rating on shares of Skye Bioscience in a research note on Wednesday, October 8th. Cantor Fitzgerald downgraded Skye Bioscience from an “overweight” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research report on Monday, October 6th. Craig Hallum lowered shares of Skye Bioscience from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research report on Monday, October 6th. Finally, Evercore ISI upgraded Skye Bioscience to a “strong-buy” rating in a research note on Friday, August 15th. One research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.80.

Skye Bioscience Trading Down 9.9%

Shares of SKYE opened at $1.37 on Friday. Skye Bioscience has a twelve month low of $1.14 and a twelve month high of $5.75. The firm has a market capitalization of $43.92 million, a P/E ratio of -1.07 and a beta of 2.28. The firm’s 50-day moving average is $2.58 and its two-hundred day moving average is $2.92.

Skye Bioscience (NASDAQ:SKYE) last issued its earnings results on Monday, November 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.01.

Institutional Trading of Skye Bioscience

Several large investors have recently bought and sold shares of SKYE. Nuveen LLC acquired a new position in shares of Skye Bioscience during the first quarter worth $37,000. Y Intercept Hong Kong Ltd purchased a new position in Skye Bioscience in the 2nd quarter valued at about $42,000. Millington Financial Advisors LLC purchased a new stake in shares of Skye Bioscience during the second quarter worth about $44,000. Marshall Wace LLP acquired a new position in shares of Skye Bioscience in the second quarter worth about $436,000. Finally, Capital Advisors Wealth Management LLC lifted its stake in shares of Skye Bioscience by 143.1% in the second quarter. Capital Advisors Wealth Management LLC now owns 50,800 shares of the company’s stock worth $212,000 after acquiring an additional 29,900 shares in the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

Insider Buying and Selling at Skye Bioscience

In other news, major shareholder 5Am Partners Vii, Llc sold 170,449 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $3.42, for a total value of $582,935.58. Following the completion of the sale, the insider owned 57,493 shares in the company, valued at approximately $196,626.06. This trade represents a 74.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew J. Schwab sold 170,449 shares of the firm’s 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 sale, the director owned 57,493 shares in the company, valued at approximately $196,626.06. The trade was a 74.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 462,810 shares of company stock valued at $1,601,097. 4.50% of the stock is owned by insiders.

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.