Skye Bioscience (NASDAQ:SKYE) Coverage Initiated at Oppenheimer

Oppenheimer began coverage on shares of Skye Bioscience (NASDAQ:SKYE) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $25.00 price objective on the stock.

Separately, Piper Sandler reaffirmed an overweight rating and set a $20.00 target price (up from $12.00) on shares of Skye Bioscience in a research report on Thursday, March 14th.

Skye Bioscience Stock Up 1.7 %

Shares of NASDAQ SKYE opened at $12.91 on Friday. The business has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $5.61. The firm has a market cap of $159.44 million, a PE ratio of -1.21 and a beta of 1.69. Skye Bioscience has a twelve month low of $1.44 and a twelve month high of $19.41.

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.