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

Cantor Fitzgerald reissued their overweight rating on shares of Skye Bioscience (NASDAQ:SKYE) in a research note issued to investors on Monday, Benzinga reports. They currently have a $14.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Oppenheimer initiated 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 reaffirmed an overweight rating and issued a $20.00 price objective (up from $12.00) on shares of Skye Bioscience in a research report on Thursday, March 14th.

Skye Bioscience Stock Performance

NASDAQ SKYE traded down $0.45 during trading hours on Monday, hitting $7.56. 71,909 shares of the company traded hands, compared to its average volume of 99,284. Skye Bioscience has a twelve month low of $1.44 and a twelve month high of $19.41. The business’s 50-day moving average is $10.18 and its 200-day moving average is $12.07.

Skye Bioscience (NASDAQ:SKYE) last released 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). Analysts predict that Skye Bioscience will post -0.95 earnings per share for the current fiscal 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.