Biote price target lowered to $2 from $3 at B. Riley

B. Riley lowered the firm’s price target on Biote (BTMD) to $2 from $3 and keeps a Neutral rating on the shares following the Q4 earnings report. While progress is being made on strategic priorities around sales force effectiveness and practitioner-facing system upgrades, there are ongoing challenges with the pace of new clinic acquisition and attrition management, the analyst tells investors in a research note.