SKYE

Skye Bioscience Inc

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3.890

+0.17(4.570%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

3.950

Open

3.780

VWAP

3.86

Vol

323.23K

Mkt Cap

120.53M

Low

3.715

Amount

1.25M

EV/EBITDA(TTM)

Total Shares

30.98M

58.24M

EV/OCF(TTM)

P/S(TTM)

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.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q2

FY2025Q3

FY2025Q4

-0.300

+50%

-0.305

+198.14%

-0.287

-1.27%

Estimates Revision

The market is revising No Change the revenue expectations for Skye Bioscience, Inc. (SKYE) for FY2025, with the revenue forecasts being adjusted by % over the past three months. During the same period, the stock price has changed by 147.77%.

EPS Estimates for FY2025

Revise Downward

-2.21%

In Past 3 Month

Stock Price

Go Up

+147.77%

In Past 3 Month

6 Analyst Rating

342.16% Upside

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 17.20 USD with a low forecast of 14.00 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.

6 Buy

0 Hold

0 Sell

Strong Buy

342.16% Upside

Current: 3.890

Low

14.00

Averages

17.20

High

20.00

342.16% Upside

Current: 3.890

Low

14.00

Averages

17.20

High

20.00

Oppenheimer

Outperform

Perform

downgrade

$21 -> $17

2025-05-12

Reason

Oppenheimer

Price Target

$21 -> $17

2025-05-12

downgrade

Outperform

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.

Citizens Capital Markets

Jonathan Wolleben

Buy

Reiterates

$15

2025-03-21

Reason

Citizens Capital Markets

Jonathan Wolleben

Price Target

$15

2025-03-21

Reiterates

Buy

Reason

Craig-Hallum

Albert Lowe

Strong Buy

Maintains

$18 → $14

2025-03-21

Reason

Craig-Hallum

Albert Lowe

Price Target

$18 → $14

2025-03-21

Maintains

Strong Buy

Reason

Craig-Hallum analyst Albert Lowe lowered the firm's price target on Skye Bioscience to $14 from $18 and keeps a Buy rating on the shares. The firm notes that due to enrollment of the ongoing Phase II study of nimacimab in obesity completing ahead of schedule, the company is removing the previously planned Q2 2025 interim analysis in favor of moving up the topline readout to September/October, from Q4 2025 previously. While this change makes the first look at the obesity data slightly later, the topline dataset for this important catalyst will be more robust, containing 26-week data on all 136 patients, Craig-Hallum adds. The benchmark for success will be an 8% weight loss with Albert focused on improvements in GI tolerability and lean mass preservation relative to GLP1 therapies. In addition, an open-label extension was added to increase the treatment time to 52 weeks, giving nimacimab sufficient time to show its full weight loss potential in future updates.

William Blair

Andy Hsieh

Buy

Initiates

n/a

2025-02-28

Reason

William Blair

Andy Hsieh

Price Target

n/a

2025-02-28

Initiates

Buy

Reason

Scotiabank

George Farmer

Buy

Initiates

$20

2024-09-30

Reason

Scotiabank

George Farmer

Price Target

$20

2024-09-30

Initiates

Buy

Reason

Cantor Fitzgerald

Kristen Kluska

Buy

Reiterates

$14

2024-09-20

Reason

Cantor Fitzgerald

Kristen Kluska

Price Target

$14

2024-09-20

Reiterates

Buy

Reason

See All Ratings

Valuation Metrics

The current forward P/E ratio for Skye Bioscience Inc (SKYE.O) is -3.06, compared to its 5-year average forward P/E of -2.14. For a more detailed relative valuation and DCF analysis to assess Skye Bioscience Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

N/A

5Y Average PE

-2.14

Current PE

-3.06

Overvalued PE

1.48

Undervalued PE

-5.76

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

N/A

5Y Average EV/EBITDA

0.00

Current EV/EBITDA

0.00

Overvalued EV/EBITDA

0.00

Undervalued EV/EBITDA

0.00

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

N/A

5Y Average PS

0.00

Current PS

0.00

Overvalued PS

0.00

Undervalued PS

0.00