Brokers Set Expectations for Skye Bioscience FY2026 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE) – Research analysts at Cantor Fitzgerald issued their FY2026 earnings estimates for shares of Skye Bioscience in a research report issued on Monday, June 9th. Cantor Fitzgerald analyst K. Kluska anticipates that the company will earn ($1.69) per share for the year. The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share.

SKYE has been the subject of a number of other research reports. Craig Hallum reduced their target price on shares of Skye Bioscience from $18.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, March 21st. William Blair reissued an “outperform” rating on shares of Skye Bioscience in a report on Tuesday, May 20th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $16.60.

Skye Bioscience Price Performance

Shares of NASDAQ SKYE opened at $2.34 on Tuesday. The firm has a market cap of $72.48 million, a price-to-earnings ratio of -2.85 and a beta of 1.69. The stock’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $1.97. Skye Bioscience has a one year low of $1.14 and a one year high of $11.16.

Skye Bioscience (NASDAQ:SKYE) last posted its earnings results on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKYE. Charles Schwab Investment Management Inc. grew its stake in Skye Bioscience by 20.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 62,363 shares of the company’s stock worth $176,000 after buying an additional 10,707 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Skye Bioscience during the 4th quarter worth approximately $29,000. Geode Capital Management LLC lifted its holdings in shares of Skye Bioscience by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 405,694 shares of the company’s stock worth $1,148,000 after acquiring an additional 19,901 shares during the period. Wells Fargo & Company MN increased its stake in Skye Bioscience by 49.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,199 shares of the company’s stock valued at $32,000 after acquiring an additional 3,684 shares during the last quarter. Finally, Barclays PLC raised its position in Skye Bioscience by 20.3% during the fourth quarter. Barclays PLC now owns 69,620 shares of the company’s stock valued at $198,000 after purchasing an additional 11,731 shares in the last quarter. Institutional investors own 21.09% of the company’s stock.

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.