FY2025 EPS Forecast for Skye Bioscience Decreased by Analyst

Skye Bioscience, Inc. (NASDAQ:SKYE) – Research analysts at William Blair cut their FY2025 earnings estimates for shares of Skye Bioscience in a note issued to investors on Tuesday, November 11th. William Blair analyst A. Hsieh now expects that the company will post earnings per share of ($1.25) for the year, down from their prior estimate of ($1.12). The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share. William Blair also issued estimates for Skye Bioscience’s Q2 2026 earnings at ($0.15) EPS, Q3 2026 earnings at ($0.15) EPS, Q4 2026 earnings at ($0.14) EPS, FY2026 earnings at ($0.63) EPS and FY2027 earnings at ($0.84) EPS.

Other research analysts have also issued reports about the stock. HC Wainwright initiated coverage on shares of Skye Bioscience in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 price objective for the company. Craig Hallum lowered shares of Skye Bioscience from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a report on Monday, October 6th. Evercore ISI raised shares of Skye Bioscience to a “strong-buy” rating in a research note on Friday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skye Bioscience in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald downgraded shares of Skye Bioscience from an “overweight” rating to a “neutral” rating and set a $2.00 price objective for the company. in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Skye Bioscience Stock Performance

Shares of Skye Bioscience stock opened at $1.52 on Thursday. The stock has a market cap of $48.73 million, a price-to-earnings ratio of -1.19 and a beta of 2.28. The stock has a 50 day moving average price of $2.63 and a 200-day moving average price of $2.93. Skye Bioscience has a one year low of $1.14 and a one year high of $5.75.

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

Insider Activity at Skye Bioscience

In other Skye Bioscience news, Director Andrew J. Schwab sold 170,449 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $3.42, for a total transaction of $582,935.58. Following the transaction, the director directly owned 57,493 shares in the company, valued at $196,626.06. This trade represents a 74.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder 5Am Partners Vii, Llc sold 170,449 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $196,626.06. This represents a 74.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 462,810 shares of company stock valued at $1,601,097 in the last ninety days. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Skye Bioscience

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of Skye Bioscience by 121.3% in the second quarter. Tower Research Capital LLC TRC now owns 10,927 shares of the company’s stock valued at $46,000 after acquiring an additional 5,989 shares in the last quarter. Capital Advisors Inc. OK purchased a new position in Skye Bioscience during the 3rd quarter valued at about $39,000. Millington Financial Advisors LLC bought a new stake in shares of Skye Bioscience in the 2nd quarter valued at about $44,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Skye Bioscience in the 2nd quarter worth approximately $42,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Skye Bioscience in the 3rd quarter worth approximately $53,000. 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.