Skye Bioscience Inc reports results for the quarter ended June 30 - Earnings Summary

• Skye Bioscience Inc SKYE.OQ reported a quarterly adjusted loss of $2.69​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of -20 cents. The mean expectation of seven analysts for the quarter was for a loss of 31 cents per share. Wall Street expected results to range from -37 cents to -26 cents per share.

• Reported revenue was zero​; analysts expected zero.

• Skye Bioscience Inc's reported EPS for the quarter was a loss of 44 cents​.

• The company reported a quarterly loss of $17.62 million.

• Skye Bioscience Inc shares had fallen by 6.9% this quarter and gained 37.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 3.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."

• Wall Street's median 12-month price target for Skye Bioscience Inc is $17.00, about 79.1% above its last closing price of $3.55

This summary was machine generated from LSEG data August 8 at 03:48 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)