- Truist has initiated biote Corp. ( NASDAQ: BTMD ) with a buy rating highlighting the company's leadership in providing bioidentical hormone replacement therapy to improve hormonal imbalance.
- The firm has a $10 price target (~138% upside based on Monday's close).
- Analyst Gregory Fraser said that the company's platform "provides physicians with effective treatment options as well as a source of income" and added that the model has led to revenue and EBITDA growth.
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He noted that biote's ( BTMD ) growth strategy is focused on increasing utlilization of both existing and new partner clinics.
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Truist conducted a survey of 25 physicians who use biote's ( BTMD ) bioidentical hormone replacement therapy and found they expect to prescribe more of the company's pellet therapy over the next year.
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Seeking Alpha's Quant Rating views biote ( BTMD ) as a strong buy.
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biote initiated as a buy at Truist on leadership in hormone optimization; sees 138% upside