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Ocugen (NASDAQ:OCGN) Rises on COVID-19 Vaccine Deal; Street Sees 3.5x Upside

Shares of biopharmaceutical company Ocugen (NASDAQ:OCGN) are soaring in the pre-market session today on the back of its exclusive licensing deal with Washington University for its COVID-19 vaccine.

The agreement includes development, manufacturing, and commercialization rights for the intranasal vaccine in the U.S., Europe, and Japan. It already has an emergency use approval in India.

Importantly, the vaccine could potentially be a universal booster, irrespective of earlier COVID-19 vaccination history.

What Is OCGN Price Target?

Analysts remain gung-ho about Ocugen stock with a Strong Buy consensus rating and an average price target of $8.67.

This points to a massive 351.56% potential upside in OCGN stock after a nearly 59% price slide so far this year.

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