Yes. Bell's theorem doesn't forbid hidden variable theories (in fact, he has a publication preceding his famous result explicitly demonstrating a hidden variable theory that could reproduce QM measurements on a two-level system), just local hidden variable theories. In his collected papers, Bell often remarks that he feels Bohm's interpretation should be more widely studied.
It's a good question why it's not. My understanding, though I'm not well versed in the subject, is that there are some pretty severe shortcomings to it, particularly when you start considering systems with many particles. I've read some of Bohm's writings to try to understand it and as far as I got I found it pretty underwhelming; it seemed more like a bookkeeping trick than any sort of real insight.