William Blair Comments on Skye Bioscience Q2 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE) – Analysts at William Blair issued their Q2 2026 EPS estimates for Skye Bioscience in a report released on Tuesday, April 15th. William Blair analyst A. Hsieh forecasts that the company will post earnings of ($0.33) per share for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share.

Separately, Craig Hallum dropped their price objective on shares of Skye Bioscience from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $16.60.

Skye Bioscience Stock Up 30.5 %

Shares of SKYE stock opened at $1.71 on Wednesday. The firm has a market cap of $52.97 million, a P/E ratio of -2.38 and a beta of 1.88. The company has a 50 day moving average of $1.75 and a 200-day moving average of $2.49. Skye Bioscience has a 12-month low of $1.14 and a 12-month high of $17.65.

Skye Bioscience (NASDAQ:SKYE) last released its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. During the same period in the prior year, the business earned ($0.36) earnings per share.

Institutional Trading of Skye Bioscience

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of Skye Bioscience during the fourth quarter valued at about $29,000. Wells Fargo & Company MN grew its holdings in shares of Skye Bioscience by 49.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,199 shares of the company’s stock worth $32,000 after acquiring an additional 3,684 shares during the period. Two Sigma Advisers LP bought a new position in shares of Skye Bioscience in the 4th quarter worth approximately $32,000. Jane Street Group LLC purchased a new position in shares of Skye Bioscience in the 3rd quarter valued at approximately $48,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Skye Bioscience in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 21.09% 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.