FY2026 EPS Estimate for Skye Bioscience Increased by Analyst

Skye Bioscience, Inc. (NASDAQ:SKYE) – Investment analysts at HC Wainwright upped their FY2026 earnings per share (EPS) estimates for shares of Skye Bioscience in a report released on Thursday, May 21st. HC Wainwright analyst A. Ghosh now forecasts that the company will post earnings of ($1.39) per share for the year, up from their prior forecast of ($1.44). The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.07) per share. HC Wainwright also issued estimates for Skye Bioscience’s FY2027 earnings at ($1.35) EPS, FY2028 earnings at ($1.54) EPS, FY2029 earnings at ($1.90) EPS and FY2030 earnings at ($0.56) EPS.

Skye Bioscience Stock Performance

SKYE opened at $0.83 on Monday. The firm has a market cap of $29.14 million, a price-to-earnings ratio of -0.58 and a beta of 3.03. Skye Bioscience has a 12 month low of $0.57 and a 12 month high of $5.75. The stock has a fifty day moving average price of $0.76 and a 200-day moving average price of $0.92.

Skye Bioscience (NASDAQ:SKYE) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.03).

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Skye Bioscience in the 4th quarter worth $40,000. Two Sigma Investments LP raised its position in shares of Skye Bioscience by 46.2% in the 3rd quarter. Two Sigma Investments LP now owns 92,318 shares of the company’s stock worth $363,000 after acquiring an additional 29,163 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Skye Bioscience in the 3rd quarter worth $53,000. Vanguard Group Inc. raised its position in shares of Skye Bioscience by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 882,785 shares of the company’s stock worth $3,469,000 after acquiring an additional 44,824 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Skye Bioscience by 121.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,927 shares of the company’s stock worth $46,000 after buying an additional 5,989 shares during the last quarter. 21.09% of the stock is owned by institutional investors.

Skye Bioscience Company Profile

Skye Bioscience, Inc is a clinical-stage biotechnology company focused on the development of novel, selective cannabinoid type 1 (CB1) receptor modulators for the treatment of ocular diseases. Headquartered in Sunnyvale, California, Skye Bioscience leverages proprietary chemistry and formulation expertise to design and optimize compounds with high potency, tissue selectivity and favorable drug-like properties. The company’s lead product candidate is being evaluated for the treatment of glaucoma and other ophthalmic conditions characterized by elevated intraocular pressure.

Skye Bioscience’s pipeline centers on synthetic cannabinoids engineered to avoid central nervous system side effects commonly associated with traditional cannabinoid therapies.