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

Skye Bioscience

10/08/2024 01:09

* Skye Bioscience Inc  SKYE.OQ  reported a quarterly
adjusted loss
of 20 cents​​ per share for the quarter ended in June.  The mean
expectation of four analysts for the quarter was for a loss
of 19 cents per share. Wall Street expected results to range
from -26 cents to -14 cents per share.
    * Reported revenue was zero​; analysts expected zero. 
    * Skye Bioscience Inc's reported EPS for the quarter was a
loss
of 20 cents​.
    * The company reported a quarterly loss of $7.9 million.
    * Skye Bioscience Inc shares had fallen by 37.7% this
quarter and
gained 83.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 39.3%
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 4 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for Skye Bioscience
Inc is $19.00 
This summary was machine generated from LSEG data August 10 at
12:08 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       -0.19          -0.20          Missed
 Mar. 31 2024      -0.16          -0.18          Missed
 Dec. 31 2023      -0.38          -0.63          Missed