Skye Bioscience (NASDAQ:SKYE) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Skye Bioscience (NASDAQ:SKYE) in a research report issued on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $21.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 75.29% from the company’s previous close.

A number of other brokerages have also weighed in on SKYE. Oppenheimer started coverage on Skye Bioscience in a report on Friday, April 12th. They issued an “outperform” rating and a $25.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $20.00 target price (up previously from $12.00) on shares of Skye Bioscience in a research note on Thursday, March 14th.

Skye Bioscience Stock Performance

Shares of NASDAQ SKYE opened at $11.98 on Thursday. Skye Bioscience has a 1-year low of $1.44 and a 1-year high of $19.41. The business has a fifty day moving average price of $12.94 and a 200 day moving average price of $9.85.

Skye Bioscience (NASDAQ:SKYE) last announced its earnings results on Friday, May 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). On average, research analysts predict that Skye Bioscience will post -1.12 EPS for the current year.

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.