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Investing.com - Roth/MKM has reduced its price target on biote Corp. (NASDAQ:BTMD) to $5.00 from $6.00 while maintaining a Buy rating on the stock.
The price target adjustment follows biote’s lowered procedure growth guidance, which prompted the analyst firm to decrease its financial estimates for the company.
Despite the reduced price target, Roth/MKM cited several factors supporting its continued Buy rating, including biote’s "inexpensive valuation" and "strong cash generation" capabilities.
The firm also noted the "recency of needed management/salesforce changes" at biote, acknowledging these changes have been disruptive to the business in the near term.
Roth/MKM expressed confidence in biote’s market position, stating the company’s "offering is unique and valuable in an increasingly attractive end market."
In other recent news, Biote Corp reported its second-quarter earnings for 2025, with mixed results. The company exceeded earnings per share (EPS) expectations, posting an EPS of $0.10 compared to the anticipated $0.08, representing a 25% surprise. However, Biote’s revenue fell short of forecasts, recording $48.9 million against the expected $49.76 million. In light of these results, Jefferies has adjusted its price target for Biote Corp, reducing it from $6.99 to $5.92, although the firm maintained its Buy rating on the stock. Jefferies pointed out that while nutraceutical sales were strong, they were not enough to fully counterbalance weaker procedure sales, leading to a top-line miss by 100 basis points. These developments have prompted investor concerns, as reflected in the stock’s after-hours trading. Despite the revenue miss, the EPS beat provides some optimism for the company’s financial performance.
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