Lawsuit Announcement: Berger Montague PC has filed a class action against Skye Bioscience on behalf of investors who purchased securities between November 4, 2024, and October 3, 2025, indicating a significant loss of investor confidence in the company's prospects.
Stock Price Plunge: Following the release of disappointing topline results from the 26-week Phase 2a CBeyond trial on October 6, 2025, Skye's stock fell by $2.85, approximately 60%, closing at $1.90, which directly impacted investors' asset values.
Investor Rights: Investors must apply by January 16, 2026, to be appointed as lead plaintiffs in the class action, highlighting the importance of legal proceedings in protecting investor rights and potentially influencing future investment decisions.
Company Background: Skye Bioscience, a clinical-stage biotechnology firm based in San Diego, focuses on treatments for obesity and metabolic diseases, and the prospects of its lead candidate nimacimab are now under scrutiny due to the lawsuit, which may affect its funding and R&D capabilities.
SKYE
$1.08+Infinity%1D
Analyst Views on SKYE
Wall Street analysts forecast SKYE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SKYE is 9.80 USD with a low forecast of 2.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
Wall Street analysts forecast SKYE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SKYE is 9.80 USD with a low forecast of 2.00 USD and a high forecast of 20.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 1.090
Low
2.00
Averages
9.80
High
20.00
Current: 1.090
Low
2.00
Averages
9.80
High
20.00
H.C. Wainwright
Ananda Ghosh
Buy
initiated
$20
2025-09-30
Reason
H.C. Wainwright
Ananda Ghosh
Price Target
$20
2025-09-30
initiated
Buy
Reason
H.C. Wainwright analyst Ananda Ghosh initiated coverage of Skye Bioscience with a Buy rating and $20 price target. The firm believes the company's nimacimab can introduce a new mechanism of longstanding interest to obesity clinicians. Nimacimab is a peripherally restricted monoclonal antibody targeting the CB1 receptor, designed to deliver the metabolic benefits of CB1 blockade without the psychiatric side effects that derailed earlier small molecule antagonists, the analyst tells investors in a research note. H.C. Wainwright views Sykes shares as undervalued at current levels.
Evercore ISI
Michael DiFiore
Outperform
initiated
$10
2025-08-14
Reason
Evercore ISI
Michael DiFiore
Price Target
$10
2025-08-14
initiated
Outperform
Reason
Evercore ISI analyst Michael DiFiore initiated coverage of Skye Bioscience with an Outperform rating and $10 price target.
Evercore ISI
Outperform
initiated
$10
2025-08-14
Reason
Evercore ISI
Price Target
$10
2025-08-14
initiated
Outperform
Reason
As previously reported, Evercore ISI initiated coverage of Skye Bioscience with an Outperform rating and $10 price target. Nimacimab is the "only weekly SC large molecule CB1 inhibitor in development," says the analyst, who sees the drug having the potential to "fill critical gaps in obesity care." The 26-week Phase 2a readout due in late Q3 or early Q4 will be "the next major test," the analyst added.
Oppenheimer
Oppenheimer
Outperform
to
Perform
downgrade
$21 -> $17
2025-05-12
Reason
Oppenheimer
Oppenheimer
Price Target
$21 -> $17
2025-05-12
downgrade
Outperform
to
Perform
Reason
Oppenheimer lowered the firm's price target on Skye Bioscience to $17 from $21 and keeps an Outperform rating on the shares. The firm notes the company reported Q1 results with $11.8M OpEx and $59.2M cash providing expected runway through Q1 2027 and supporting execution of Phase 2a CBeyond and manufacturing for Phase 2b. Oppenheimer looks forward to top-line data for CBeyond in late-Q3/early-Q4, as Skye previously announced that ahead-of-schedule enrollment would eliminate the need for an interim analysis. Regarding CBeyond trial extension, it sees longer-term dosing and follow-up as potentially derisking for nimacimab ahead of a dose-ranging Phase 2b.
About SKYE
Skye Bioscience, Inc. is a clinical-stage biotechnology company. The Company is focused on development of next-generation molecules that modulate G-protein coupled receptors to treat obesity, overweight, and related conditions. The Company’s lead candidate, nimacimab, is a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor 1 (CB1). The Company is also focused on its Phase IIa clinical trial, CBeyond, for nimacimab. The CBeyond clinical trial includes approximately 136 patients, 16 clinical trial sites and a combination arm with a GLP-1 receptor agonist to assess differences in weight loss, body composition, and other attributes. The CB1 receptor is one of the receptors in the endocannabinoid system (ECS) and plays a significant role both in the central nervous system (CNS) and peripheral tissues. The Company's Phase II study in obesity for nimacimab, is a negative allosteric modulating antibody that peripherally inhibits CB1.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
