Biote

BTMD · NASDAQ

$1.07−$0.01 (−0.93%)TodayMarket closed · Oct 20, 7:14 PM ET

Prev close $1.08

BTMD analyst rating

BuyConsensus of 3 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy2
Hold1
Underperform0
Sell0

12-month price target · 7 analysts

Average $2.66 (+149.0% upside)

Low: $1.51
Now: $1.07
High: $4.20

Upgrades and downgrades

The latest rating actions, newest first

BTMD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
B. Riley Securities	Aug 10, 2026	Maintains	Neutral	$2.00 → $1.50	46%
TD Cowen	Aug 7, 2026	Maintains	Buy	$2.50 → $2.00	61%
Truist Securities	Apr 16, 2026	Maintains	Buy	$5.00 → $4.00	52%
B. Riley Securities	Mar 12, 2026	Maintains	Neutral	$3.00 → $2.00	46%
TD Cowen	Mar 12, 2026	Maintains	Buy	$3.00 → $2.50	61%

The case for and against

Updated Sep 2, 2026

Bull case

Biote is facing challenges around new-clinic acquisition/retention and the pace of key performance indicator recovery, compounded by a lower earnings base and potentially higher leverage. However, management expects sequential procedure revenue improvement in the third and fourth quarters, as the company's legal issues are resolved and supply and inventory are normalized. The company's revenue was below expectations due to a voluntary recall and higher legal expenses, but it continues to see growth potential through supplement sales and potential inorganic opportunities.

Bear case

Biote is heavily reliant on a limited number of external outsourcing facilities for its hormone optimization products, and any disruptions or issues with these facilities could result in production delays and potential losses in revenue. The company is also subject to strict regulation and compliance in the healthcare industry, which could lead to fines or disruption of business operations if not properly adhered to. In addition, Biote faces intense competition in the hormone optimization space from larger and more established companies, and social unrest and political uncertainty could also negatively impact its ability to generate revenue. Furthermore, the company is facing challenges with practitioner retention and new clinic acquisition, which could impact its potential for future growth. Overall, with increasing competition, potential regulatory issues, and internal growth concerns, the future outlook for Biote may be challenging.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.