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

Analysts at Craig Hallum started coverage on shares of Skye Bioscience (NASDAQ:SKYE) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $18.00 price target on the stock. Craig Hallum’s price target indicates a potential upside of 195.57% from the stock’s previous close.

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

Skye Bioscience Price Performance

NASDAQ:SKYE opened at $6.09 on Tuesday. Skye Bioscience has a fifty-two week low of $1.44 and a fifty-two week high of $19.41. The business has a 50 day moving average price of $8.54 and a 200-day moving average price of $11.32.

Skye Bioscience (NASDAQ:SKYE) last released its quarterly earnings data 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). As a group, 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.