Skye Bioscience (NASDAQ:SKYE) Earns “Overweight” Rating from Cantor Fitzgerald

Skye Bioscience (NASDAQ:SKYE)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $14.00 target price on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 85.19% from the stock’s current price.

SKYE has been the topic of a number of other reports. Oppenheimer began coverage on Skye Bioscience in a research note on Friday, April 12th. They issued an “outperform” rating and a $25.00 target price on the stock. Piper Sandler restated an “overweight” rating and issued a $20.00 target price (up from $12.00) on shares of Skye Bioscience in a research note on Thursday, March 14th.

Skye Bioscience Trading Down 6.2 %

NASDAQ:SKYE opened at $7.56 on Monday. Skye Bioscience has a 52-week low of $1.44 and a 52-week high of $19.41. The business’s fifty day moving average is $9.83 and its 200 day moving average is $11.83.

Skye Bioscience (NASDAQ:SKYE) last announced its earnings results on Friday, May 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). Research analysts forecast that Skye Bioscience will post -0.95 earnings per share for the current year.

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.