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VistaGen Therapeutics Inc (VTGN) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of VistaGen Therapeutics Inc stock $0.19, price $0.18, upside +2.0%, quality 28 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

EstimateBear $0.1401 to bull $0.2334 Growth analysisrevenue history, year by year Quality 28/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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Healthcare US

Thin data Nov 10, 2026

VistaGen Therapeutics Inc

VTGN · US

Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt

Ranks above peers (5/8)

Fair value $0.1867 · Fairly valued

Mixed Growth (revenue 5y +3.1 %/yr in USD)

Quality 28/100

Negative free cash flow

Narrow moat 12/100

Thin data

Estimate

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $0.1600 – $95.10 · fair‑value band $0.1401 – $0.2334 · the $0.1831 price screens below the $0.1867 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Vistagen Therapeutics, Inc., a clinical-stage biopharmaceutical company, engages in the development and commercialization of therapies for neuropsychiatric and neurological disorders.

Show moreShow less

The company's product pipeline includes Fasedienol, an investigational pherine nasal spray that is in Phase III clinical trial for the treatment of anxiety in adults with social anxiety disorder; and Itruvone, an odorless synthetic investigational neuroactive pherine nasal spray, which is in Phase IIa clinical trial to treat major depressive disorder.

It also develops refisolone, an odorless and tasteless synthetic investigational pherine nasal spray that is in Phase IIa clinical trial for the treatment of vasomotor symptoms, including hot flashes due to menopause, premenstrual dysphoric disorder, and other women's health disorders; PH15, an investigational pherine nasal spray, which is in Phase IIa clinical trial for the treatment to improve cognitive impairment caused by mental fatigue disorders; PH284, an odorless and tasteless synthetic investigational pherine nasal spray that is in Phase IIa clinical trial to treat loss of appetite associated with chronic disorders, such as cancer cachexia; and AV-101, an oral prodrug that targets N-methyl-D-aspartate receptor in the brain for treating depression and neurological disorders.

It has a license and collaboration agreement with AffaMed Therapeutics, Inc. to develop, manufacture, and commercialize fasedienol for multiple anxiety-related disorders. Vistagen Therapeutics, Inc. was founded in 1998 and is headquartered in South San Francisco, California.

Stock analysis

VistaGen Therapeutics Inc (VTGN) currently trades at $0.1831, while our estimate is $0.1867, so the stock looks roughly fairly valued today (gap 1.9%).

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $0.1401 (bear) to $0.2334 (bull), the price of $0.1831 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 28/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

VistaGen Therapeutics Inc reported revenue of $1.3M in FY2026 versus $1.1M in FY2022, a compound +3.4%/yr. Reported net income was −$69.7M in FY2026.

Key figures

Market cap $8.1M Micro · P/S ratio 3.55 · EPS (TTM) $−1.66 · Return on equity −166% · Return on assets (EBIT) −117% (5-year average) · Operating margin −904% · Revenue (TTM) $2.5M · Revenue growth (YoY) +505%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).

What moves the price

The share trades about 96% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at 2%, VTGN screens cheaper than that median.

Fair Value

Bear $0.1401 Fair Value $0.1867 Bull $0.2334

Price $0.1831 · Upside +2.0%

Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 28/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 1

How much profit the company makes from its sales and capital

Quality Growth 62

Are margins and returns getting better?

Cashflow 10

Do the profits arrive as real cash?

Financial strength 75

Debt, balance sheet and risk of trouble

Investment 15

Does it invest with discipline instead of growing at any price?

Low Volatility 50

How calm the share price moves, does not count

Price momentum 4

Price momentum of the last 3 to 12 months, does not count

Near the 52-week high 0

Distance to the 52-week high, does not count

New shares 0

Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

Plus 3 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 5/100

Revenue is growing, but margins or cash flow do not fully confirm the trend.

Revenue growth 1 year

+161.1%

Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+3.1%

Start year 2021 (pandemic)

Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

−0.4%

’12

’13

’17

’20

’21

’22

’24

’25

’26

Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.

−1,646.1% (2021) → −5,683.7% (2026)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss

not computed

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Compare VistaGen Therapeutics Inc with another stock

Price, fair value, quality and upside side by side.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks

Beats the industry median on 4/6 measures

Overall it ranks above its industry peers.

Valuation

Quality Score 28 · Bottom 25%

Fair Value upside +2.0% · Top 25%

Profitability

Return on assets −143.5% · Bottom 25%

Growth and dividend

Revenue growth (quarter YoY) 504.9% · Top 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 0.23× · Cheapest 25%

P/S (12 months) 3.25× · Cheaper than median

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)36 · sector 0

FUTURE (revenue growth)100 · sector 0

PAST (return on equity)0 · sector 0

HEALTH (low debt)100 · sector 96

DIVIDEND (yield)0 · sector 20

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock	Price	Fair Value	vs Fair Value	Compare
Regeneron Pharmaceuticals, Inc REGN	$916.06	$1,275	+39%	vs VTGN
Samsung Biologics Co 207940	1,468,000 KRW	1,661,000 KRW	+13%	vs VTGN
Vertex Pharmaceuticals Incorporated VRTX	$547.89	$601.80	+10%	vs VTGN
Genmab A/S GMAB	kr 3,581	kr 3,880	+8%	vs VTGN
argenx SE ARGX	$971.55	$908.40	−7%	vs VTGN
CSL Limited CSL	A$201.68	A$181.40	−10%	vs VTGN
Moderna, Inc MRNA	$250.83	$158.70	−37%	vs VTGN
BeOne Medicines AG 6160	HK$252.20	HK$152.80	−39%	vs VTGN
Celltrion, Inc 068270	203,000 KRW	74,945 KRW	−63%	vs VTGN
Royalty Pharma plc RPRX	$69.45	$19.01	−73%	vs VTGN

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VistaGen Therapeutics Inc: fair value per Fair Value Calculator

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Cite: Fair Value Calculator (2026). "VistaGen Therapeutics Inc Fair Value". https://www.fairvalue-calculator.com/stock/VTGN

Frequently asked questions

Is VistaGen Therapeutics Inc (VTGN) overvalued or undervalued?

As of Nov 10, 2026, our estimate of fair value is $0.1867 versus a price of $0.1831, about +2% upside (fairly valued).

What is the fair value of VTGN?

Our estimate for VistaGen Therapeutics Inc is $0.1867 (as of Nov 10, 2026), built from audited fundamentals. The current price: $0.1831.

What is the quality score of VTGN?

VistaGen Therapeutics Inc has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.

What is the price target for VistaGen Therapeutics Inc (VTGN)?

Our calculated price target is the estimate of $0.1867 (as of Nov 10, 2026). Cautious scenario $0.1401, optimistic scenario $0.2334. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.

What is the VistaGen Therapeutics Inc stock forecast for 2026?

Our estimate puts fair value at $0.1867, about +2% upside versus a price of $0.1831 (fairly valued). Cautious scenario $0.1401, optimistic scenario $0.2334. The calculation is refreshed regularly with new filings.

What is the revenue of VistaGen Therapeutics Inc (VTGN)?

VistaGen Therapeutics Inc reported trailing-twelve-month revenue of about $2.5M (latest available figure, as of Nov 10, 2026).

What is the intrinsic value of VistaGen Therapeutics Inc (VTGN)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For VistaGen Therapeutics Inc it is $0.1867 per share (as of Nov 10, 2026), against a price of $0.1831.

Is VistaGen Therapeutics Inc stock overvalued or undervalued in 2026?

As of Nov 10, 2026, VTGN trades below its calculated fair value: price $0.1831, fair value $0.1867, a gap of about +2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of VTGN?

No. The price is what the market pays today ($0.1831); the fair value is what the company's own numbers justify ($0.1867). For VistaGen Therapeutics Inc the two are $0.0036 per share apart. That gap is exactly why we show both numbers side by side.

How much is VistaGen Therapeutics Inc worth?

The market values VistaGen Therapeutics Inc at about $8.1M (market capitalisation, as of Nov 10, 2026). Per share that is $0.1831; our models calculate a fair value of $0.1867 per share.

What do the bullish and bearish scenarios say about VTGN?

Our models span a range for VistaGen Therapeutics Inc: cautious scenario $0.1401, base $0.1867, optimistic $0.2334 per share (as of Nov 10, 2026, price $0.1831). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of VistaGen Therapeutics Inc (VTGN)?

Balance-sheet figures for VistaGen Therapeutics Inc (as of Nov 10, 2026): return on equity −166.5%. They feed the Quality Score of 28/100, which measures business quality independently of the share price.

How far is VTGN from its 52-week high?

VistaGen Therapeutics Inc trades at $0.1831, about 96% below its 52-week high of $4.90 and 14% above the low of $0.1600 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $0.1867 is for.

Which stocks are comparable to VistaGen Therapeutics Inc?

From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is VistaGen Therapeutics Inc stock attractive at the current price?

The data as of Nov 10, 2026: price $0.1831, calculated fair value $0.1867 (+2%), Quality Score 28/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

Is it still worth investing in stocks now?

The global stock market currently sits 15.1% above its aggregate fair value. VistaGen Therapeutics Inc currently trades 2% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of VistaGen Therapeutics Inc (VTGN)?

The closing price on Nov 10, 2026 was $0.1831. Our estimate is $0.1867, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with VistaGen Therapeutics Inc right now?

The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of VistaGen Therapeutics Inc

How large is the market capitalisation of VistaGen Therapeutics Inc (VTGN)?

The market capitalisation of VistaGen Therapeutics Inc is $8.1M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of VistaGen Therapeutics Inc (VTGN)?

The price-to-sales ratio of VistaGen Therapeutics Inc is 3.55 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of VistaGen Therapeutics Inc (VTGN)?

Earnings per share at VistaGen Therapeutics Inc are $−1.66. Earnings per share over the last twelve months: total profit spread across every single share.

What is the return on equity of VistaGen Therapeutics Inc (VTGN)?

The return on equity (ROE) of VistaGen Therapeutics Inc is −166% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.

What is the EBIT return on assets of VistaGen Therapeutics Inc (VTGN)?

On an EBIT basis the return on assets of VistaGen Therapeutics Inc is −117% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of VistaGen Therapeutics Inc (VTGN)?

The operating margin of VistaGen Therapeutics Inc is −904% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at VistaGen Therapeutics Inc (VTGN)?

Revenue at VistaGen Therapeutics Inc is growing +505% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How much free cash flow does VistaGen Therapeutics Inc (VTGN) generate?

The free cash flow of VistaGen Therapeutics Inc is −$66.4M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does VistaGen Therapeutics Inc (VTGN) hold?

VistaGen Therapeutics Inc holds more cash than debt, $29.7M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.

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