Biote price target lowered to $9 from $10 at B. Riley

B. Riley lowered the firm’s price target on Biote (BTMD) to $9 from $10 and keeps a Buy rating on the shares. Biote’s Q4 revenue and AEBITDA were below estimates, while gross margin exceeded expectations, the analyst tells investors in a research note. The company has enough capacity through the vertical integration of its 503B manufacturing facility to meet demands for pellets as it becomes licensed in additional states, the firm says.