Skye Bioscience (SKYE) & Its Competitors Head-To-Head Comparison

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 peers? We will compare Skye Bioscience to similar businesses based on the strength of its analyst recommendations, institutional ownership, dividends, profitability, earnings, valuation and risk.

Analyst Ratings

This is a summary of recent ratings for Skye Bioscience and its peers, 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 possible upside, equities research analysts plainly believe Skye Bioscience is more favorable than its peers.

Profitability

This table compares Skye Bioscience and its peers’ 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%

Risk & Volatility

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

Earnings & Valuation

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

Institutional & Insider 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 insiders. Comparatively, 14.2% of shares of all “Pharmaceutical preparations” companies are owned by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock will outperform the market over the long term.

Summary

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

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. 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.