Biote price target lowered to $6 from $8 at Roth Capital

Roth Capital lowered the firm’s price target on Biote (BTMD) to $6 from $8 and keeps a Buy rating on the shares. The company’s Q1 report was again mixed as gross margin exceeded 74% but the revenue outperformance was driven by Biote’s lower quality supplement business, the analyst tells investors in a research note. Procedure growth also turned negative and forward growth remains uncertain, the firm adds.