Contrasting Skye Bioscience (SKYE) and Its Rivals

Skye Bioscience (NASDAQ:SKYE) is one of 1,000 publicly-traded companies in the “Pharmaceutical preparations” industry, but how does it weigh in compared to its competitors? We will compare Skye Bioscience to similar businesses based on the strength of its dividends, analyst recommendations, risk, profitability, earnings, valuation and institutional ownership.

Earnings and Valuation

This table compares Skye Bioscience and its competitors revenue, earnings per share and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
Skye Bioscience	N/A	-$37.65 million	-1.13
Skye Bioscience Competitors	$1.67 billion	$145.88 million	-1.39

Skye Bioscience’s competitors have higher revenue and earnings than Skye Bioscience. Skye Bioscience is trading at a higher price-to-earnings ratio than its competitors, indicating that it is currently more expensive than other companies in its industry.

Profitability

This table compares Skye Bioscience and its competitors’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Skye Bioscience	N/A	N/A	-438.15%
Skye Bioscience Competitors	-2,459.06%	-249.83%	-30.60%

Analyst Recommendations

This is a summary of current recommendations for Skye Bioscience and its competitors, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Skye Bioscience	0	0	2	0	3.00
Skye Bioscience Competitors	6410	18760	44756	919	2.57

Skye Bioscience currently has a consensus price target of $22.50, indicating a potential upside of 86.41%. As a group, “Pharmaceutical preparations” companies have a potential upside of 78.87%. Given Skye Bioscience’s stronger consensus rating and higher probable upside, research analysts plainly believe Skye Bioscience is more favorable than its competitors.

Volatility and Risk

Skye Bioscience has a beta of 1.74, meaning that its stock price is 74% more volatile than the S&P 500. Comparatively, Skye Bioscience’s competitors have a beta of 1.09, meaning that their average stock price is 9% more volatile than the S&P 500.

Insider & Institutional Ownership

21.1% of Skye Bioscience shares are owned by institutional investors. Comparatively, 44.7% of shares of all “Pharmaceutical preparations” companies are owned by institutional investors. 0.7% of Skye Bioscience shares are owned by company insiders. Comparatively, 14.2% of shares of all “Pharmaceutical preparations” companies are owned by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock is poised for long-term growth.

Summary

Skye Bioscience beats its competitors on 7 of the 13 factors compared.

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. It has license agreement with university of Mississippi. The company was formerly known as Emerald Bioscience, Inc. and changed its name to Skye Bioscience, Inc. in January 2021. The company is headquartered in San Diego, California.