Skye Bioscience ($SKYE) - A Strong BuySkye Bioscience (NASDAQ: SKYE) is gaining attention due to its lead obesity candidate, nimacimab, currently in Phase 2 trials with results expected in Q3/Q4 2025. Improved earnings and potential short-squeeze setup make this a high-reward opportunity.
Why NASDAQ:SKYE is a Buy:
Bullish Divergence: RSI shows higher lows while price makes lower lows. Stochastic RSI is oversold, indicating potential reversal.
Improved Earnings: Loss per share improved from -$0.28 to -$0.24. Cash position of $68.4 million to fund operations through Q1 2027.
Promising Clinical Trials: Nimacimab targets obesity with up to 16% weight loss in preclinical studies. Positive results expected in late 2025.
Short Squeeze Potential: 12.33% short interest could trigger rapid upward movement.
Analyst Targets: Median price target of $18.00 suggests strong upside potential.
Probability of Success:
$10 Target: 60% - Supported by bullish divergence, earnings, and short interest.
$15 Target: 40% - Achievable with strong momentum and trial results.
Conclusion: NASDAQ:SKYE offers a high-risk, high-reward trade opportunity with strong technical signals and promising fundamentals. Watch for volume spikes and further updates on trials.
