Is Vericel Corp. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Vericel Corp. has moved from attractive to fair, indicating a shift in its perceived value. Based on the current metrics, the company appears to be overvalued, with a P/E ratio of 732, a Price to Book Value of 7.38, and an EV to EBITDA of 517.61. In comparison, its peer, Harmony Biosciences Holdings, Inc. has a P/E of 11.40, while Amphastar Pharmaceuticals, Inc. has a P/E of 11.49, highlighting a significant disparity in valuation.
The recent stock performance shows that Vericel Corp. has underperformed relative to the S&P 500, particularly over the year-to-date period, where it has returned -35.68% compared to the S&P 500's 13.30%. This trend reinforces the notion that the stock may be overvalued given its high valuation ratios and poor recent performance.