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

Cantor Fitzgerald reiterated their overweight rating on shares of Skye Bioscience (NASDAQ:SKYE) in a report published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $14.00 target price on the stock.

A number of other research firms also recently commented on SKYE. Oppenheimer started coverage on shares of Skye Bioscience in a report on Friday, April 12th. They issued an outperform rating and a $25.00 price objective for the company. Piper Sandler reiterated an overweight rating and issued a $20.00 price objective (up previously from $12.00) on shares of Skye Bioscience in a report on Thursday, March 14th.

Skye Bioscience Stock Down 6.2 %

Shares of Skye Bioscience stock opened at $7.56 on Monday. Skye Bioscience has a twelve month low of $1.44 and a twelve month high of $19.41. The firm’s 50-day moving average price is $9.83 and its 200 day moving average price is $11.83.

Skye Bioscience (NASDAQ:SKYE) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). As a group, analysts anticipate that Skye Bioscience will post -0.95 earnings per share 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.