HC Wainwright Reduces Earnings Estimates 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 earn ($0.36) per share for the quarter, down from their prior 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.

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

Other analysts have also issued research reports about the company. Citigroup reaffirmed a “market outperform” rating on shares of Skye Bioscience in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Skye Bioscience in a 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.80.

Skye Bioscience Price Performance

Shares of NASDAQ SKYE opened at $0.71 on Friday. The business has a fifty day moving average price of $0.86 and a two-hundred day moving average price of $1.68. The stock has a market capitalization of $22.67 million, a PE ratio of -0.51 and a beta of 2.86. Skye Bioscience has a fifty-two week low of $0.61 and a fifty-two week high of $5.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Millington Financial Advisors LLC purchased a new stake in shares of Skye Bioscience in the 2nd quarter valued at approximately $44,000. Marshall Wace LLP bought a new stake in shares of Skye Bioscience during the 2nd quarter worth $436,000. Capital Advisors Wealth Management LLC grew its holdings in Skye Bioscience by 143.1% during the 2nd quarter. Capital Advisors Wealth Management LLC now owns 50,800 shares of the company’s stock worth $212,000 after acquiring an additional 29,900 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Skye Bioscience in the 2nd quarter worth about $218,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Skye Bioscience by 121.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,927 shares of the company’s stock valued at $46,000 after buying an additional 5,989 shares during the period. Institutional investors and hedge funds own 21.09% of the company’s stock.

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.