William Blair Predicts Skye Bioscience Q2 Earnings

Skye Bioscience, Inc. (NASDAQ:SKYE) – Research analysts at William Blair issued their Q2 2026 earnings per share estimates for shares of Skye Bioscience in a report released on Tuesday, April 15th. William Blair analyst A. Hsieh expects that the company will earn ($0.33) per share for the quarter. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share.

Skye Bioscience (NASDAQ:SKYE) last released its earnings results on Thursday, March 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. During the same quarter last year, the company posted ($0.36) EPS.

Separately, Craig Hallum reduced their target price on Skye Bioscience from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Skye Bioscience presently has a consensus rating of “Buy” and a consensus price target of $16.60.

Skye Bioscience Trading Up 30.5 %

SKYE opened at $1.71 on Wednesday. The company has a fifty day moving average price of $1.75 and a two-hundred day moving average price of $2.49. Skye Bioscience has a 1-year low of $1.14 and a 1-year high of $17.65. The company has a market cap of $52.97 million, a P/E ratio of -2.38 and a beta of 1.88.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Skye Bioscience during the fourth quarter worth about $29,000. Wells Fargo & Company MN boosted its stake in Skye Bioscience by 49.0% during the 4th quarter. Wells Fargo & Company MN now owns 11,199 shares of the company’s stock valued at $32,000 after purchasing an additional 3,684 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Skye Bioscience during the 4th quarter worth approximately $32,000. Jane Street Group LLC purchased a new stake in shares of Skye Bioscience in the third quarter worth approximately $48,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Skye Bioscience in the fourth quarter worth approximately $38,000. 21.09% of the stock is owned by institutional investors.

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.