Spain’s credit rating upgraded to ’A+’ by S&P on strong growth
Investing.com - JMP Securities has reiterated its Market Outperform rating on Skye Bioscience (NASDAQ:SKYE) with a price target of $15.00. The stock, currently trading at $55.11, has shown strong momentum with a 31.37% gain over the past year and a recent 4.06% uptick in the past week, according to InvestingPro data.
The research firm maintained its positive outlook ahead of upcoming Phase 2a Cbeyond clinical trial results for the company’s obesity treatment candidate.
JMP highlighted that the trial data will demonstrate CB1 inhibition as a differentiated mechanism within the competitive obesity treatment pipeline.
The firm specifically pointed to nimacimab as a "potential best-in-class candidate" in its research note.
JMP’s $15 price target is based on a risk-adjusted, discounted cash flow (DCF) analysis of the biopharmaceutical company’s prospects. For deeper insights into SKYE’s valuation metrics and 8 additional ProTips, consider accessing the comprehensive research available on InvestingPro.
In other recent news, Skye Bioscience reported its Q2 2025 earnings, which highlighted a significant rise in research and development expenses, contributing to a net loss of $17.6 million. This increase in spending is attributed to strategic investments in the company’s obesity treatment pipeline. Additionally, Skye Bioscience announced promising results from preclinical studies involving its experimental obesity treatment nimacimab. The studies demonstrated over 40% weight loss in diet-induced obese mice when nimacimab was combined with tirzepatide, and it also reduced rebound weight gain compared to tirzepatide alone. The company plans to host a virtual expert panel event to discuss the upcoming topline results from its Phase 2a CBeyond trial of nimacimab. This event will feature obesity specialists who will explore the potential role of peripheral CB1 inhibition as a therapeutic pathway for obesity. These developments reflect Skye Bioscience’s ongoing commitment to advancing its obesity treatment research.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.