HC Wainwright Expects Reduced Earnings for Skye Bioscience

Skye Bioscience, Inc. (NASDAQ:SKYE) – Equities research analysts at HC Wainwright decreased their Q3 2026 EPS estimates for Skye Bioscience in a research note issued on Wednesday, March 11th. HC Wainwright analyst A. Ghosh now anticipates that the company will post earnings of ($0.36) per share for the quarter, down from their previous forecast of ($0.35). The consensus estimate for Skye Bioscience’s current full-year earnings is ($1.04) per share. HC Wainwright also issued estimates for Skye Bioscience’s Q4 2026 earnings at ($0.36) EPS, FY2026 earnings at ($1.44) EPS and FY2029 earnings at ($1.94) EPS.

A number of other brokerages have also issued reports on SKYE. Citigroup reiterated a “market outperform” rating on shares of Skye Bioscience in a research note on Monday, January 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Skye Bioscience in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.80.

Skye Bioscience Stock Performance

SKYE opened at $0.66 on Friday. Skye Bioscience has a fifty-two week low of $0.61 and a fifty-two week high of $5.75. The firm’s fifty day moving average is $0.86 and its 200 day moving average is $1.66. The stock has a market cap of $22.04 million, a price-to-earnings ratio of -0.47 and a beta of 2.86.

Skye Bioscience (NASDAQ:SKYE) last announced its quarterly earnings data on Tuesday, March 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07).

Hedge Funds Weigh In On Skye Bioscience

Several hedge funds have recently modified their holdings of SKYE. Two Sigma Investments LP grew its stake in Skye Bioscience by 46.2% during the third quarter. Two Sigma Investments LP now owns 92,318 shares of the company’s stock valued at $363,000 after acquiring an additional 29,163 shares in the last quarter. Marshall Wace LLP bought a new stake in Skye Bioscience in the 2nd quarter valued at $436,000. Vanguard Group Inc. increased its holdings in Skye Bioscience by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 882,785 shares of the company’s stock valued at $3,469,000 after acquiring an additional 44,824 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Skye Bioscience in the 2nd quarter worth $218,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Skye Bioscience in the 3rd quarter worth $53,000. Hedge funds and other institutional investors own 21.09% of the company’s stock.

About Skye Bioscience

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.