Analyzing Skye Bioscience (SKYE) & Its Competitors

Skye Bioscience (NASDAQ:SKYE) is one of 987 public companies in the “Pharmaceutical preparations” industry, but how does it weigh in compared to its rivals? We will compare Skye Bioscience to related businesses based on the strength of its valuation, institutional ownership, profitability, analyst recommendations, earnings, risk and dividends.

Analyst Ratings

This is a summary of recent ratings for Skye Bioscience and its rivals, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Skye Bioscience	0	0	2	0	3.00
Skye Bioscience Competitors	6287	18453	43462	887	2.56

Skye Bioscience presently has a consensus price target of $22.50, indicating a potential upside of 73.21%. As a group, “Pharmaceutical preparations” companies have a potential upside of 82.67%. Given Skye Bioscience’s rivals higher possible upside, analysts clearly believe Skye Bioscience has less favorable growth aspects than its rivals.

Institutional and Insider Ownership

21.1% of Skye Bioscience shares are held by institutional investors. Comparatively, 44.5% of shares of all “Pharmaceutical preparations” companies are held by institutional investors. 0.7% of Skye Bioscience shares are held by insiders. Comparatively, 14.2% of shares of all “Pharmaceutical preparations” companies are held by insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock is poised for long-term growth.

Volatility & Risk

Skye Bioscience has a beta of 1.69, indicating that its share price is 69% more volatile than the S&P 500. Comparatively, Skye Bioscience’s rivals have a beta of 0.71, indicating that their average share price is 29% less volatile than the S&P 500.

Profitability

This table compares Skye Bioscience and its rivals’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Skye Bioscience	N/A	N/A	-438.15%
Skye Bioscience Competitors	-2,340.89%	-232.86%	-30.92%

Valuation & Earnings

This table compares Skye Bioscience and its rivals top-line revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Net Income	Price/Earnings Ratio
Skye Bioscience	N/A	-$37.65 million	-1.21
Skye Bioscience Competitors	$1.72 billion	$149.39 million	-1.35

Skye Bioscience’s rivals have higher revenue and earnings than Skye Bioscience. Skye Bioscience is trading at a higher price-to-earnings ratio than its rivals, indicating that it is currently more expensive than other companies in its industry.

Summary

Skye Bioscience rivals beat Skye Bioscience on 7 of the 13 factors compared.

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. It has license agreement with university of Mississippi. The company was formerly known as Emerald Bioscience, Inc. and changed its name to Skye Bioscience, Inc. in January 2021. The company is headquartered in San Diego, California.