Skye Bioscience (NASDAQ:SKYE) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Skye Bioscience (NASDAQ:SKYE) in a report released on Friday, MarketBeat.com reports. The firm issued an outperform rating and a $25.00 price objective on the stock.

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

Skye Bioscience Price Performance

Shares of NASDAQ:SKYE opened at $12.91 on Friday. Skye Bioscience has a 1-year low of $1.44 and a 1-year high of $19.41. The business has a fifty day moving average price of $11.19 and a 200-day moving average price of $5.61. The company has a market capitalization of $159.44 million, a PE ratio of -1.21 and a beta of 1.69.

Skye Bioscience Company Profile

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.