Craig-Hallum bullish on Biote, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Biote (BTMD) with a Buy rating and $12 price target Consumer interest in next-gen therapies like hormone replacement therapy, or HRT, is rising and Biote’s proprietary solution enables family doctors around the country to safely and effectively administer hormone therapy to patients at scale. Growth rate is temporarily depressed to high-single-digits in 2024 given transition of supplement business, but is poised to reaccelerate to double-digit growth in 2025 and beyond, Craig-Hallum argues.