Critical Review: Skye Bioscience (SKYE) vs. Its Peers

Skye Bioscience (NASDAQ:SKYEGet Free Report) is one of 991 publicly-traded companies in the “Pharmaceutical preparations” industry, but how does it compare to its rivals? We will compare Skye Bioscience to related companies based on the strength of its earnings, valuation, risk, profitability, analyst recommendations, dividends and institutional ownership.

Analyst Ratings

This is a breakdown of recent ratings for Skye Bioscience and its rivals, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Skye Bioscience 0 0 2 0 3.00
Skye Bioscience Competitors 6323 18486 44325 911 2.57

Skye Bioscience currently has a consensus target price of $22.50, suggesting a potential upside of 60.37%. As a group, “Pharmaceutical preparations” companies have a potential upside of 89.37%. Given Skye Bioscience’s rivals higher probable upside, analysts clearly believe Skye Bioscience has less favorable growth aspects than its rivals.

Risk and Volatility

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 0.85, indicating that their average share price is 15% less volatile than the S&P 500.

Earnings and Valuation

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

Gross Revenue Net Income Price/Earnings Ratio
Skye Bioscience N/A -$37.65 million -1.31
Skye Bioscience Competitors $1.69 billion $148.55 million -4.31

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.

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 -2,643.36% -232.55% -29.89%

Institutional & Insider Ownership

21.1% of Skye Bioscience shares are owned by institutional investors. Comparatively, 44.8% of shares of all “Pharmaceutical preparations” companies are owned by institutional investors. 0.7% of Skye Bioscience shares are owned by company insiders. Comparatively, 14.2% of shares of all “Pharmaceutical preparations” companies are owned by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a company will outperform the market over the long term.

Summary

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

About Skye Bioscience

(Get Free Report)

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.

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