Biote price target lowered to $7 from $9 at Truist

Truist lowered the firm’s price target on Biote (BTMD) to $7 from $9 and keeps a Buy rating on the shares. The company’s Q4 was a challenging quarter and its introduced below-Street guidance was also not reassuring, the analyst tells investors in a research note. BHRT – bioidentical hormone replacement therapy – market dynamics and demand remains strong however, with Biote seen as the front-runner against smaller competitors, the firm adds.