As previously reported, Cantor Fitzgerald initiated coverage of Skye Bioscience with an Overweight rating and $21 price target. Skye’s pipeline includes two lead assets that modulate the cannabinoid receptor 1, notes the firm, which points out that the company has guided to start a Phase 2 trial of nimacimab in obesity in Q3 and to report Phase 2a top line data for SBI-100 Ophthalmic Emulsion in glaucoma in Q2. The firm likes the setup on Skye shares despite a “strong” 340% year-to-date advance, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SKYE:
- Three new option listings on May 22nd
- Skye Bioscience announces presentation of poster on dry eye disease at ARVO 2024
- Skye Bioscience Highlights Novel Synthetic Cannabinoid-based Library Capable of Modulating the Endocannabinoid System to Treat Ocular Diseases at ARVO 2024 Annual Meeting
- Skye Bioscience management to meet with Oppenheimer
- Skye Bioscience to Present at Upcoming Investment Conferences