Skye Bioscience (NASDAQ:SKYE) Research Coverage Started at Craig Hallum

Craig Hallum initiated coverage on shares of Skye Bioscience (NASDAQ:SKYEFree Report) in a research report released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $18.00 target price on the stock.

Several other brokerages also recently commented on SKYE. Oppenheimer assumed coverage on shares of Skye Bioscience in a report on Friday, April 12th. They issued an outperform rating and a $25.00 target price on the stock. Piper Sandler reiterated an overweight rating and issued a $20.00 price objective (up from $12.00) on shares of Skye Bioscience in a research note on Thursday, March 14th. Finally, Cantor Fitzgerald restated an overweight rating and set a $14.00 target price on shares of Skye Bioscience in a research note on Monday, July 1st.

Read Our Latest Stock Analysis on Skye Bioscience

Skye Bioscience Stock Up 9.1 %

Shares of NASDAQ:SKYE opened at $6.09 on Tuesday. The business has a 50-day moving average of $8.54 and a two-hundred day moving average of $11.32. Skye Bioscience has a fifty-two week low of $1.44 and a fifty-two week high of $19.41.

Skye Bioscience (NASDAQ:SKYEGet Free Report) last posted its earnings results on Friday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). On average, equities analysts predict that Skye Bioscience will post -0.95 EPS for the current fiscal year.

Skye Bioscience Company Profile

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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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