Skye Bioscience’s Innovative Approach in Obesity Market Garners Buy Rating Amid Promising Market Potential

Skye Bioscience (SKYE) has received a new Buy rating, initiated by William Blair analyst, Andy Hsieh.

Andy Hsieh has given his Buy rating due to a combination of factors related to Skye Bioscience’s innovative approach in the obesity market. Skye is developing nimacimab, a cannabinoid 1 receptor inverse agonist/antagonist, which could offer a unique advantage in this competitive space. The drug’s potential to achieve significant weight loss while improving gastrointestinal tolerability and preserving lean body mass sets it apart from existing treatments.
Hsieh also notes the promising market potential, with the obesity market projected to exceed $100 billion by the early 2030s. Despite the intense competition from established GLP-1 receptor drugs, even a modest market share could yield substantial returns for investors. Additionally, upcoming clinical trial milestones, such as interim and final results from Phase II studies, could further validate Skye’s strategic positioning, supporting the Buy rating.