B. Riley analyst Jeff Van Sinderen downgraded Biote (BTMD) to Neutral from Buy with a price target of $4, down from $8. The company reported a mixed Q2 and lowered its fiscal 2025 outlook, the analyst tells investors in a research note. The firm says a high attrition rate of established clinics, lower procedure volume, and a low rate of new clinic acquisition hindered Biote’s Q2. Riley is unsure of the time it will take the company to achieve sustainable growth of quality new practitioner adds and procedures.
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