Skye Bioscience (NASDAQ:SKYE – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06, Zacks reports. During the same quarter in the previous year, the business earned ($0.36) earnings per share.
Skye Bioscience Trading Down 5.5 %
SKYE stock opened at $1.89 on Friday. Skye Bioscience has a 12 month low of $1.83 and a 12 month high of $17.65. The firm has a 50-day moving average of $2.69 and a two-hundred day moving average of $2.84.
Analyst Ratings Changes
Separately, William Blair started coverage on shares of Skye Bioscience in a report on Friday, February 28th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $18.67.
Skye Bioscience Company Profile
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.
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