Skye Bioscience (NASDAQ:SKYE) Releases Quarterly Earnings Results, Meets Estimates

Skye Bioscience (NASDAQ:SKYE) issued its quarterly earnings data on Friday. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20), Zacks reports.

Skye Bioscience Trading Up 1.8 %

NASDAQ:SKYE traded up $0.08 during trading hours on Monday, reaching $4.60. The company had a trading volume of 100,900 shares, compared to its average volume of 117,851. Skye Bioscience has a 52 week low of $1.44 and a 52 week high of $19.41. The company’s 50 day simple moving average is $5.81.

Analyst Ratings Changes

A number of brokerages have weighed in on SKYE. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price objective on shares of Skye Bioscience in a report on Monday, July 1st. Craig Hallum initiated coverage on shares of Skye Bioscience in a research report on Tuesday, July 9th. They set a “buy” rating and a $18.00 price target for the company.

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.